MIST Suzuki may not be ready in time for the 2010 MCE British Superbike Championship season opener at Brands Hatch on April 3-5.
A statement from the outfit explained that while work continues towards the 2010 season, with the Suzuki GSXR1000 having been 'vastly improved' during the off-season, sponsor issues have left the squad in a 'difficult position'.
Despite that though MIST Suzuki have pledged that 'every effort is being made to secure the necessary funding to compete... and hire a rider capable of proving what the team can do'.
The full statement read:
"Plans for 2010 began in early November with promising talks with both sponsors and potential riders alike.
"As time moved on an agreement was reached with a top level sponsor and plans continued with a view to hiring an established rider, someone of the calibre of former race winner Chris Walker for example, and other experienced staff who could help take the team to the next level.
"In the past week though the team has learned that the company that had agreed to support the sponsor's new business venture would be reviewing their partnership which means that by the time any money is available, if at all, it will be too late to allow everything to be ready in time for the start of the season.
"It is with regret that MIST Suzuki finds themselves in a difficult position with such a short time before pre-season testing is due to begin. Every effort is being made to secure the necessary funding to compete in the British Superbike class this season and hire a rider capable of proving what the team can do.
"In addition there is potentially the option to run a second rider in the new Superbike Evo class should the opportunity arise."
MIST Suzuki had to withdraw from the 2009 MCE British Superbike Championship last year in August due to budgetary problems.