David Coulthard announced on Thursday he will retire from Formula One racing at the end of the current season.

The 37-year-old Scot, who has been racing in Formula One since 1994, said he will remain as a consultant to Red Bull Racing and has not ruled out racing in other categories in the future.

"I would like to announce today my decision to retire from racing in Formula One at the end of this season," said the Scot in a statement ahead of the British Grand Prix.

"I will remain actively involved in the sport as a consultant to Red Bull Racing focusing on testing and development of the cars.

"I have an open mind as to whether or not I will compete again in the future, in some other form of motorsport, so I am definitely not hanging up my helmet," added the Red Bull driver.

Coulthard, who made his F1 racing debut at the Spanish Grand Prix in 1994, will leave the sport after over 230 races, including 13 wins.

"The decision to make this announcement at the British GP should be an obvious one for all to understand, as I have achieved two of my thirteen F1 victories at Silverstone and I am a member of the British Racing Drivers' Club, which hosts this event," added Coulthard.

"I am proud of my work at Red Bull Racing and will continue to race with the same focus until the last lap in Brazil. Thereafter I will continue to help the team develop and move towards their ultimate goal of winning races."