Biaggi was already known to be splitting from Peter Oettl, who will manage Ayumu Sasaki and Collin Veijer under the new ‘Liqui Moly Husqvarna Intact GP Moto3’ banner next season.

Four-time 250ccand double World Superbike champion Biaggi’s future plans remain unknown, but he will not continue in Moto3.

“A wonderful double, after a very difficult period, in which it was necessary to make painful decisions,” Biaggi said.

“Valencia will represent the last race in Moto3 of the Max Racing Team.

“I want to thank Sterilgarda Alimenti, which has always supported me, Husqvarna Motorcycles, KTM and all those who in recent years have contributed to achieving these results.

“My passion is inexhaustible and will always represent the engine of new goals with which to measure, already in 2023.”

Biaggi is a ‘global ambassador’ for Aprilia, the manufacturer with which he won five of his world championship, fuelling speculation he may be set for some kind of role in the company’s MotoGP activities.

Aprilia will double its premier-class presence next season by adding a satellite team, RNF, alongside its race-winning factory project.

Biaggi: ‘The time has come for new challenges’

Max Racing made its Moto3 debut with Aron Canet in 2019, celebrating three wins and runner-up in the world championship. Romano Fenati (2), Sasaki (2) and now McPhee have also stood on the top step of a Moto3 race for the Roman Emperor.

“We started in the Moto3 World Championship four years ago and every year we’ve got at least one win,” Biaggi said.

“In the debut year there were even three, like this year. We had the pleasure and honour to bring three different riders back to victory and we brought a young rider [Sasaki] to his first victory.

“All this fills me with pride and satisfaction. We started very far away and after a few years we set up a winning team, but now for me the time has come for new challenges.”

The Sepang one-two followed a difficult period in which Max Racing separated from two mechanics caught deliberately blocking a rival in pit lane at Aragon, then McPhee’s crew chief, after the shocking 2019 video involving Tom Booth-Amos came to light.

McPhee's future is also currently unclear, having now reached the age limit for the Moto3 class.

“I’m proud of myself, I dug so deep," the Scotsman said after his brilliant win from just 22nd on the grid.

"It has been such a tough season and weekend here. It was a tough day yesterday but now I’m so happy for the guys who have been supporting me.

"One last win in Moto3 but we still have another chance in Valencia.”

McPhee is now up to tenth in the world championship, with Sasaki in fourth.