Mario Theissen has elected to stay with BMW after the German carmarker made the decision to quit F1.

Theissen, who held the role of team principal with the BMW Sauber F1 team, had delayed making a decision about his future as the Qadbak Investments group looked to secure takeover - with speculation that he could remain involved with the new team and leave his position as BMW's motorsport director.

However, following the collapse of the Qadbak deal and the subsequent sale of the team back to Peter Sauber, Theissen has elected to leave the F1 arena to remain with BMW with Sauber set to act as team principal for his own outfit should an entry into F1 be granted.

"He [Theissen] is staying with BMW," a spokesman told Reuters. "He will not be involved with Sauber.

"After BMW announced they were pulling out, it was left up to Mario to decide and he has said he will stay as motorsport director."