According to reports from British tabloids, (*cough* Daily Mail *cough*), Veteran driver Jenson Button is set announce his retirement from Formula 1 at the end of the season following a breakdown of talks with McLaren head Ron Dennis about his future during the Singapore Grand Prix weekend.

The newspaper claimed that Button, who won the drivers’ world championship in 2009, could even announce his decision at this weekend’s Japanese Grand Prix.

The Englishman admitted that he had no interest in driving for another team in Formula 1 next season, but acknowledged there were external factors influencing negotiations. It had been claimed that Button’s salary demands were proving prohibitive for McLaren, who are anticipating a fall in revenues after a horrible campaign so far this year.

“If I am racing in Formula 1 next year and in the future I want to be with McLaren,” Button said.

“It’s a team I’ve spent so many years with, gone through some great times and bad times as well.” He added: “I can’t give you too many details but away from who’s decision it is, obviously you have to look at where you are in your life.”

Button has won 15 of his 278 races in Formula 1 since being picked by Williams for a race seat when he was just 19 years old. Unless there is a surprising u-turn, he is now expected to pursue a second career in sportscar racing, while expanding his media commitments. Kevin Magnussen seems to be the favorite to take his place at the team.

More time with wifey, Jessica Michibata?