iSport GP2 team to fold

Former GP2 champion team iSport is on the verge of selling its GP2 cars and entry to avoid potentially going bust later in the season.

iSport took Timo Glock to the 2007 drivers' title and won the teams' contest in the same year.

Team boss Paul Jackson told AUTOSPORT that he is waiting on a deal to confirm whether or not a new outfit is to purchase his cars and take over his entry for the 2013 season. This scenario has arisen due to iSport being unable to attract fully funded drivers for 2013. It is not planning on contesting the series and will not attend next week's test at Jerez.

"Yesterday afternoon [Thursday] I received an offer to buy the cars and take over our entry," Jackson said. "I am now waiting for a call to confirm that it's a legitimate offer, which I believe it is, and that the right money is in place to pay for it."