LONDON , England ( CNN ) -- Spain 's Fernando Alonso has torn up his contract at McLaren and quit the Formula One team after a stormy year which has seen him deposed as world champion . Alonso clashed with teammate Hamilton and team boss Dennis in a difficult 2007 . Alonso , who finished third in the 2007 standings behind teammate Lewis Hamilton and new champion Kimi Raikkonen , is now free to join another team . A source with knowledge of the Alonso-McLaren talks told CNN that it is not yet known where Alonso will go next . The 26-year-old has been linked with a return to his former team Renault or may sit out 2008 awaiting a possible spot at Italian giants Ferrari . Alonso , who had two years left on his contract with British-based McLaren , courted controversy for his strained relationship with Hamilton and team boss Ron Dennis and his departure appeared almost inevitable . `` Since I was a boy I had always wanted to drive for McLaren , but sometimes in life things do not work out , '' said Alonso in a statement released by the team . `` I continue to believe that McLaren is a great team . Yes , we have had our ups and downs during the season , which has made it extra-challenging for all of us , and it is not a secret that I never really felt at home . `` I know there have been suggestions of favoritism within the team and people say a lot of things in the heat of battle , but in the end I was always provided with an equal opportunity to win . '' Dennis added : `` Everybody at Vodafone McLaren Mercedes , especially McLaren 's Spanish partners Banco Santander and Mutua Madrilena and the team 's title partner Vodafone , want to wish Fernando all the best for the future . '' Alonso has been in intense negotiations over his early exit with McLaren , who said on their Web site that he had left `` in the best interests of both parties . '' The 2007 season had started promisingly for McLaren , but rookie Hamilton 's early successes appeared to unsettle Alonso as the title race boiled down to a four-way race between the McLaren drivers and Ferrari 's Raikkonen and Felipe Massa . The first clear sign of friction occurred at the Hungarian Grand Prix in August when Alonso was accused of preventing Hamilton from completing a final qualifying lap . He was demoted from pole position to sixth on the grid by race stewards . More serious was the Formula One 'spy scandal ' which saw McLaren fined over $ 100 million by the sports governing body , the FIA . During the FIA investigation it was alleged Alonso had threatened to go the FIA with sensitive information and Dennis revealed that he had not spoken to Alonso in several weeks . A fragile peace was established for the championship decider at the Brazil GP , but it proved a disastrous finale for McLaren as neither Hamilton or Alonso could secure the points they needed to win the title and Raikkonen prevailed . E-mail to a friend . CNN 's Madrid Bureau Chief Al Goodman and CNN Sports Producer Chris Eldergill contributed to this report .
Spain 's Fernando Alonso left McLaren with two years left on his contract . Alonso was deposed as world champion after a controversial 2007 season . The three - time world champion may return to former team Renault .