A team statement said that a replacement for Pollock would be confirmed at the unveiling of the 2002 car at the team's Brackley factory on Tuesday.

The favourite to take over from Pollock is World Rally Championship boss Dave Richards, who had a spell in charge of F1 team Benetton.

Pollock's departure is being presented as being by mutual consent.

"I am extremely proud of what has been achieved at British American Racing. I believe the foundations have been laid for great success," Pollock said.

"All the staff have been fantastic to work with and I wish the Team every success for the future.

"For my part I think the time is now right to explore new opportunities," he added.

Pollock's friendship with lead driver Jacques Villeneuve was instrumental in bringing the former world champion to the new team.

BAR chairman Kenneth Clarke, the former Chancellor of the Exchequer, said the team, which made its Formula One debut in 1999, were grateful for Pollock's efforts.

"He has been pivotal in enabling BAR to become one of the most successful start-up teams in recent Formula One history," said Clarke.

Consistently poor results and the team repeatedly going over budget were among the reasons for team owner BAT, the tobacco giant, being dissatisfied.