GP2 Media Service
Motopark, which operated GP2 team Russian Time, has split with the team.
Motopark ran Russian Time to the GP2 teams' title in 2013 and came close to winning the drivers' title with Sam Bird.
But after the sudden death of Russian Time team principal Igor Mazepa earlier this month, Motopark has withdrawn from the collaboration due to the changed circumstances.
Mazepa founded Russian Time ahead of the 2013 season after taking over iSport's entry and roped in Timo Rumpfkeil's Motopark outfit.
Rumpfkeil says that he could not accept the conditions which had been proposed by the lawyers and advisers dealing with Mazepa's estate.
"The conditions they had in mind would have resulted in us not being competitive any more," he said.
"It had always been the aim of both Igor Mazepa and ourselves to establish Russian Time at the very top of every championship we enter," said Rumpfkeil.
"We showed that we are capable of doing so by winning the GP2 teams' title in our maiden season last year. This was where we should have continued. As this seems no longer possible, the cooperation between my Team Motopark and Russian Time unfortunately has come to an end."
Russian Time is also expanding into GP3 this season and had previously announced Jimmy Eriksson as one of their drivers.
Their prospective other drivers, Marvin Kirchhoefer and Markus Pommer, as well as GP2 racer Tom Dillmann are now set to find themselves searching for new drives.
"Neither them nor our team members who worked hard and tirelessly to make our teams' title possible in 2013 have done anything wrong, and none of them deserves such devastating news," he added.
British broadcaster Sky Sports reports that Russian Time is close to a deal which would see another team operate their outfit and enable them to remain on the GP2 and GP3 grid in 2014.
The GP2 season begins in Bahrain in April.
In other GP2 news, Kimiya Sato will race for returnees Campos Racing in 2014. Sato was vice-champion in AutoGP in 2013 and also tested for Sauber at the Formula 1 young driver test.
