Moto3 rostrum finisher Juanfran Guevara has announced his retirement from professional racing at the age of 22, stating the decision is mainly down to personal reasons.

The Spanish rider, who clinched his maiden world championship podium this year in the Mugello Moto3 race with third place, has pulled out of his 2018 racing commitments despite being announced on the provisional Moto3 entry list earlier this month with RBA BOE Racing KTM.

Guevara says he’s switching focus to “the business world” having combined his studies while racing full-time in Moto3 since 2013. The Spanish rider broke into the championship with a handful of wildcard outings in 2011 and 2012 before securing a full-time deal with CIP Moto3 TSR Honda.

The 22-year-old completed his most successful campaign this year with a maiden podium in Italy plus highs of fifth places at Le Mans and Brno. In his final race Guevara battled to sixth place in Valencia to secure 11th place in the Moto3 riders’ world championship – his best career finish.

Guevara has cited financial and personal reasons behind his decision to quit racing and thanks his family, supporters and team members for their backing during his career.

Guevara’s full retirement statement:

“It was a very hard and thoughtful decision that I made with the help, first of all, of my family, of all the directors of the fan club commission and some of the main sponsors who have supported me throughout this years,” Guevara said in a statement. “My passion for the world of motorcycling has not changed at all, but different economic reasons, and mainly personal ones, have given rise to this irrevocable decision.

“I have decided to focus my career on the business world, studies that I have been combining all these years while racing in the Motorcycle World Championship. A point has arrived where I believe that in this way I will be able to grow more as a person and also dedicate more time to different projects that I have been developing over the last few years and that until now I have not been able to defend as they deserve.

“Everyone who is or has been in this world, knows everything that has to be sacrificed in order to give 100% in the circuits. I want to dedicate more time to my family and to recover, in a certain way, friends and people that I have neglected.

“I want to thank the RBA-BOÉ Racing Team team for their understanding and I wish you good luck in your next seasons in the Motorcycle World Championship. Thanks for the support and for trusting me during these years.

“Also thank to TeaMMurcia for being with me from the first moment and look after my management from the beginning until today. Thanks to all the sponsors who have bet for me since I started my career as a pilot in the Regional Championship of the Region of Murcia, accumulating more than 40 podiums in national championships, achieving the second place in European Championship and taking my name across the different continents through the Motorcycling World Championship, reaching a dream such as climbing to a MotoGP podium.

“Lastly, and for me the most important thing, you are all those fans who have worn the 58 on all circuits as a symbol of support. The Fan Club will be part of me throughout my life. You have been the reason why I have given more to this issue. There will never be enough words to thank you for everything.

“I close a stage of my life that took with me a multitude of moments, and above all, wonderful people that I will never forget. To all of you, my parents and Miguel, thank you.”