File photo of Mercedes GP Formula One driver Schumacher of GermanyReuters 
Ferrari Formula One driver Michael Schumacher of Germany celebrates with his crew after winning the U.S. Formula One Grand Prix in Indianapolis July 2, 2006.Reuters 
Mercedes Formula One driver Michael Schumacher of Germany rides a quick scooter at a paddock area at the Suzuka circuit ahead of Sunday's Japanese F1 Grand PrixReuters 
Mercedes Formula One driver Schumacher of Germany gestures in the pits during the third practice session of the Singapore F1 Grand PrixReuters 
File photo of Mercedes Formula One driver Michael Schumacher of GermanyReuters 
File photo of Mercedes Formula One driver Schumacher of GermanyReuters 
Michael SchumacherReuters 
File photo of Mercedes Formula One driver Schumacher of Germany taking a curve during the third practice session of the Monaco F1 Grand PrixReuters 
File photo of Mercedes Formula One driver Michael Schumacher of Germany celebrating his 300th grand prix at the circuit where he made his debut in 1991, after the qualifying session of the Belgian Grand Prix in Spa FrancorchampsReuters 
Michael SchumacherReuters 
File photo of Mercedes Formula One driver Schumacher of Germany celebrating being the fastest in qualifying at the Monaco F1 Grand PrixReuters 
File photo of Mercedes Formula One driver Michael Schumacher of Germany carrying a broken part to his car after he crashed in the second practice session for the German F1 Grand Prix at the Hockenheimring in HockenheimReuters 
Ferrari Formula One driver Michael Schumacher (bottom L) of Germany celebrates with his crew after winning the U.S. Formula One Grand Prix in Indianapolis July 2, 2006.Reuters 
File photo of Mercedes Formula One driver Schumacher during the podium ceremony after the European F1 Grand Prix at the Valencia street circuitReuters 
File photo of Mercedes Formula One driver Schumacher driving in front of McLaren's Hamilton during the second practice session of the Bahrain F1 Grand Prix at the Sakhir circuit in ManamaReuters 
Mercedes Formula One driver Schumacher of Germany is pictured in the pits during the third practice session of the Singapore F1 Grand PrixReuters
German Formula One racing driver and seven-time World Champion, Michael Schumacher, announced his retirement for the second time on Thursday after failing to perform well for Mercedes.
The announcement came a week after Mercedes signed Lewis Hamilton for a whopping £60million from McLaren as a replacement to Schumacher.
It is second retirement for Schumacher, who holds the record of winning 91 races in a career spanning over a decade. He announced his first retirement in 2006 but hit the track again in 2012 after signing a three-year contract with Mercedes.
[PHOTOS OF MICHAEL SCHUMACHER]
"I have decided to retire by the end of the year, although I am still able and capable to compete with the best drivers that are around," he said in a statement, adding, "But at some point, it is good to say goodbye. And that is what I am doing here... and it might this time even be forever."
The 43-year-old legend, who is widely regarded as the greatest F1 driver of all time, rubbished speculations that he would join a lesser known team and expressed his happiness on his performance in spite of failing to win prizes.
"During the past month I was not sure if I still had the motivation, and energy which is necessary to go on," he said.
"It is not my style to do something that I'm not 100 percent feeling for. With today's decision I feel released from those doubts. It is without doubt that we did not achieve our goals... but it is also very clear that I can still be very happy about my overall achievements in the whole time of my career," he added.
Schumacher was not good enough in his second innings as the first one. After winning World Championship title for Benetton in 1994 and 1995, he went on to grab five more for Ferrari, but his stint with the Mercedes was a disappointing one. However, he is a legend and has left as a legend.
Perhaps he is the greatest F1 driver of all time.
