Lorenzo is the defending MotoGP champion and races for Movistar Yamaha. The partnership was rumoured in recent weeks and Lorenzo's disdain for his teammate, Valentino Rossi, is no secret.
A press release from Movistar Yamaha on MotoGP.com went as follows:
After three incredible titles, 41 races wins and 99 podiums together, Jorge Lorenzo and Yamaha will part ways after the 2016 season.
Yamaha Motor Co., Ltd. announces that its partnership with Jorge Lorenzo will be discontinued at the close of the 2016 MotoGP™ season, when Lorenzo will move on to new racing challenges.
Since Lorenzo joined the Yamaha Factory Racing Team in 2008, Lorenzo and Yamaha have enjoyed eight fantastic seasons of racing together, during which time they have won three MotoGP™ World Championships (2010, 2012 and 2015), clinched 41 race wins and have been on the podium 99 times out of 141 races contested.
Yamaha is extremely grateful for Jorge's contributions to its racing successes and looks forward to sharing more memorable moments during the remaining 15 MotoGP™ rounds of 2016, their ninth season together.
Yamaha Motor Co., Ltd. wishes Lorenzo the very best in his future racing endeavors and reconfirms the Movistar Yamaha MotoGP team’s full support on his campaign to achieve his fourth MotoGP™ title.
Having already reconfirmed Valentino Rossi for 2017-18, Yamaha will announce the future Movistar Yamaha MotoGP team riders’ line-up in due course after securing the services of the second rider.