The iSport International team’s participation in the GP2 Series is in doubt a month before the 2013 season begins.

The team, based near Norwich, won the teams’ and drivers’ titles in 2007 with Timo Glock. After finishing sixth in the standings in 2012, the team have yet to confirm any drivers for the coming season which gets underway in Malaysia on 23 March. Pre-season testing begins at Jerez next week.

Team boss Paul Jackson has confirmed that he is in talks to sell the team’s cars and its entry in order to save the company, having been unable to find drivers with the necessary budget.

“We’re not prepared to risk our business by starting the season with no means to see it through and going bust by the middle of it,” Jackson told Autosport.

“It’s obviously a very, very sad situation. We’ve tried all workable solutions, and decided there is no point in committing commercial suicide. The economy is obviously very tight, but we’re in the position where we don’t owe anything to anyone, and we’re keen to sort the situation out in full cooperation with GP2 and then move on to a new project when we’ve cleared our heads a little.

“We’re a team with a good reputation, both for engineering standards and for paying our bills. We wish to maintain that in the future.”

iSport would be the third team to leave the championship over the winter. Coloni pulled out following a disagreement with series organisers, and will be replaced by MP Motorsport, while Ocean Racing Technology had to give up their entry to Hilmer Motorsport after encountering financial problems. This comes after Formula 1 feeder series stalwarts Super Nova were forced to pull out 12 months ago.