Ferrari technical chief James Allison to leave with immediate effect

Ferrari have confirmed that chief technical officer James Allison will leave the team with immediate effect, following weeks of speculation over his future at the team.

Ferrari team principal Maurizio Arrivabene insisted speculation suggesting Allison's role at the outfit was under threat following a disappointing start to the season, was pure rumour and recently asked the media to let the team "work in peace".

However on Wednesday, Ferrari confirmed the two parties had jointly agreed to part ways with immediate effect.

"The team would like to thank James for his commitment and sacrifice during the time spent together, and wishes him success and serenity for his future endeavors," commented Arrivabene.

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Allison, who lost his wife earlier this year to meningitis and is believed to want to spend more time in the UK with his children, wished the team future success.

"During the years I spent at Ferrari, at two different stages and covering different roles, I could get to know and appreciate the value of the team and of the people, women and men, which are part of it.

"I want to thank them all for the great professional and human experience we shared. I wish everybody a happy future with lots of success."

Ferrari also confirmed that Mattia Binotto will take on the role of chief technical officer following Allison's departure.