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Jenson Button is set to announce his retirement from F1 at this weekend’s Japanese Grand Prix, according to reports.

Button has been in negotiations with McLaren to race next year but reports indicate that the former World Champion has decided to bow out on his terms after another season in an uncompetitive car. Button regards the native country of his wife Jessica – a place which has become a second home for the Englishman – as the ideal venue to confirm that he will leave the sport at the end of the season.

Button has endured a very tough year in F1 due to the uncompetitive nature of the MP4-30 chassis. He is currently 18 in the Drivers Championship, a far cry from 2009 – when he became the World Champion. He has managed to score points in only two races this year, at Hungary and Monaco. Button endured a tough race at the Singapore GP and retired eventually.

Two McLaren youngsters, Kevin Magnussen and Stoffel Vandoorne are the leading contenders to replace Button. Magnussen drove for the team last season and has grown frustrated sitting on the sidelines this year.

The 35-year-old made his F1 debut with Williams in 2000 and went on to drive for Benetton, Renault, BAR, Honda and Brawn before joining McLaren. To date he has won 15 races, including six in 2009 on his march to his only world title.