LONDON (REUTERS) - Romain Grosjean and Kevin Magnussen will leave the Haas Formula One team at the end of the season, the US-owned outfit said on Thursday (Oct 22) ahead of the Portuguese Grand Prix.

Both drivers had earlier posted messages on social media announcing their departures.

Frenchman Grosjean, 34, has been at Haas since 2016, with Dane Magnussen, 28, joining in 2017.

"We have a lot of good memories together - in particular our 2018 season when we finished fifth in the standings in only our third season. Romain and Kevin played a significant part in that success," said team boss Guenther Steiner in a statement.

Magnussen tweeted that he was still working on his plans for the future and wanted to finish the last six races of the season on a high.

Grosjean posted a message saying "the last chapter is closed and the book is finished", and wishing the team all the best for the future.