Conquest Racing has announced an immediate end to its deal with the Rubicon Sports Agency.

The team, which will miss the next two rounds of the season at Kentucky and Mid-Ohio revealed that the end of the deal will also see Jim Fruedenberg leave his role as commercial director.

An announcement regarding plans for the remainder of the season is expected in due course.

"Conquest Racing announced today that it has ended its partnership with the Rubicon Sports Agency," a short statement read. "The termination of the association, which included Rubicon's Jim Freudenberg acting as Commercial Director for the team, is effective immediately.

"Rubicon Sports Agency had been brought on by Conquest Racing in April and was responsible for the development of the team's commercial platform including attracting new and maintaining existing commercial partners.

"Conquest Racing will not attend the next two IndyCar Series races in Kentucky and Mid-Ohio, but an announcement regarding Conquest's end of season plans is expected next week."