GP2 team Piquet Sports have denied the report in this week's Autosport magazine which links Carlin Motorsport with a possible takeover of the team.
Trevor Carlin, who already runs cars in British F3, the World Series by Renault and A1 GP, failed in recent attempts to join the GP2 grid with a new team. However, he was still looking at joining the series by buying another team's entry.
In a statement, Piquet Sports' team principal Felipe Vargas said: "Piquet Sports has committed to the GP2 Series until the end of 2007 and the team is fully concentrated on getting the best possible results in the 2006 season and beyond.
"I have no idea where these stories (regarding the possible buy out of Piquet Sports by Carlin Motorsport) have come from but they are categorically not true, and contrary to reports, no discussions with Carlin have taken place.
"We are working very hard to improve our performance for next year and are in the process of recruiting additional personnel to strengthen the team. We want to win the championship in 2006 and are making every effort to see that we can realise this ambition."