Scuderia Coloni's time in the GP2 Series will come to an end once the 2012 season has finished following a disagreement between the Italian team and the organisers of the feeder series.
The outfit have participated in the main Formula One support championship since 1997, when it was Formula 3000.
From 2006 until the middle of 2009, the team entered as Fisichella Motor Sport after a tie-up with Giancarlo Fisichella. Last year they finished runner-up in the drivers' standings with Luca Filippi.
“We took part in the championship since its first edition and we have many good memories from our racing seasons,” said Enzo Coloni, who also runs the Auto GP World Series championship.
“I would like to thank Bruno Michel and the whole GP2 staff for their cooperation throughout the years.”
As a result of the decision agreed between the two parties that Coloni will not take part in the 2013 season, the team will forfeit all the points received in 2012. They had been eighth in the standings coming into the Silverstone weekend.
Coloni will be the second F3000/GP2 stalwart to leave the series following the departure of British squad Super Nova before the current campaign.