"I need to be sure before the season starts that there is enough to carry over. This is not currently the case," he said. "This is too uncertain. I'm responsible for my staff."
Jackson later told Autosport
that it was important to him to maintain iSport's reputation in the industry, both as as winning race team and a financially viable engineering business. "We're a team with a good reputation," he said. "We wish to maintain that in the future."
iSport was a founding member of the GP2 Series in 2005 and has been involved ever since, winning the driver and team championships in 2007 with Timo Glock. Other drivers that have competed for the team include Scott Speed, EJ Viso, Karun Chandhok, Bruno Senna, Giedo van der Garde, Oliver Turvey, Sam Bird and Davide Valsecchi.
Last season's drivers with the team were Marcus Ericsson and Jolyon Palmer who finished in eighth and 11th place in the drivers championship, between them amassing two wins and two second places along with three further podium finishes. iSport itself finished in sixth place in the team championship.
Jackson added that if the team was able to sell off its GP2 assets then it would look to channel the money toward racing in another, lower-cost championship that would ensure the ongoing survival of the company as a racing operation.
If iSport does exit the series, it will be the third team to withdraw since the end of the 2012 season. Scuderia Coloni exited over unspecified disagreements with the series organisers, while Ocean Racing Technology was forced to quit in January because of financial problems.
Two new teams, MP Motorsport and Hilmer Motrosport, have already taken their places on the starting grid for the 2013 season.
Super Nova Racing was another casualty of the economic downturn earlier in 2012 when it was forced out of the competition and its place taken by new team Venezuela GP Lazarus.
Other GP2 teams have weathered the storm by linking up with other companies, such as Carlin entering into a partnership with Russian car manufacturer Marussia Motors to give the Marussia F1 team a GP2 presence, and Lotus Cars moving to rebrand the team formerly known as ART Grand Prix under the new name Lotus GP.