Comtec Racing has stated its intention to return to Formula Renault 3.5 at the earliest opportunity, after being forced to withdraw from this weekend's event at Spa-Francorchamps.
The Norfolk-based team received the news late on Tuesday afternoon that Nikolay Martsenko, its only driver for the season, had lost his funding for the remainder of the season.
Martsenko's difficulties ends Comtec's run of 76 consecutive World Series by Renault starts.
"It is such a shame, and totally unexpected," said team manager Phil Blow.
"I was discussing Spa with Nikolay only the day before we received the news and he was extremely focused on the weekend, having had to miss Monaco due to the bereavement of a personal friend."
Russian Martsenko has enjoyed a competitive start to his season, lying sixth in the drivers' standings and taking a highest finish of second at Motorland in Aragon.
Blow added: "Nikolay has exceeded expectations, with easily the most competitive start to a campaign he has ever had.
"It was reasonable to expect a good set of results at Spa, it being a circuit that would certainly suit our car philosophy.
"We will, however, do what is required to get back into the championship at the earliest opportunity and complete the rest of the season with our friends and competitors in FR3.5."
Follow the first Spa-Francorchamps FR3.5 race as it happens on AUTOSPORT Race Centre Live from 14:15pm UK time on Saturday May 31st