Breaking: Oscar Piastri ends management agreement with Mark Webber

Oscar Piastri has parted ways with his management team, ending a long-standing agreement with Mark and Ann Webber that guided him from his junior career into Formula 1.

The McLaren driver and the Webbers have mutually agreed to terminate the deal, closing a chapter that stretches back to the Australian's formative years in motorsport.

Webber and his wife have overseen Piastri's management since his junior single-seater days, a period that culminated in his arrival on the grid with McLaren and a maiden Grand Prix win on home soil earlier in his career.

Webber, the former Red Bull driver turned manager, explained that his reduced presence in the paddock this season played a part in the decision.

"We are proud to have played a pivotal role in the formative years of Oscar's career and to have placed him in F1 so that he could compete at the front so early on," said Webber.

"Following our reduced trackside involvement this season, we have collectively agreed that now is an appropriate time to bring our management agreement to a close. 

"This will allow Oscar to build on his achievements under a new management structure, and for us to embark on our new ventures. We wish Oscar all the very best for a long and successful career."

Piastri, in turn, thanked his now-former manager for the role he played in his rise through the junior categories and into Formula 1.

"I'd like to thank Mark and Ann for all their support and advice over the years," said the 25-year-old.

"Their guidance has been invaluable, particularly in navigating the beginning of my F1 career. I wish them all the best going forward."

The Australian will now move forward under a new management structure as he continues his campaign with McLaren, with the team heading into the final rounds of the season following last time out in Brazil.