Team IntaRacing has parted company with a potential buyer on the eve of a transaction that could have prolonged the existence of the first year team.
Although it insists that it will be part of the field at next weekend's Townsville round, the longer term future of the squad has to be in doubt after negotiations with Sherrin Rentals, which stepped into the sponsorship breach when Access Cash disappeared and then appeared on course to buy the team, ended suddenly.
The V8 Supercars Australia board was apparently poised to approve the change of ownership earlier this month, after Sherrin's backing was extended from a one-off deal at Symmons Plains to cover the SkyCity Triple Crown at Hidden Valley and then appeared set to morph into an ownership bid to take over from founders Daniel Tzvetkoff and Salvatore Sciacca, directors of internet finance company IntaBill, which owned Access Cash before its pre-season closure.
According to the V8 Supercar website, Queensland Supreme Court documents show that Tzvetkoff, Sciacca, IntaBill and another venture, BT Projects, are listed as defendants in a case where the Kolyma Corporation, overseer of the Full Tilt Poker website, is pursuing a reported $52m.
IntaRacing driver Marcus Marshall confirmed the end of the relationship wih Sherrin Rentals in a brief statement issued in the build-up to Townsville.
“I would like to take this opportunity to thank Sherrin Rentals for their support of Team IntaRacing over the last two events of the 2009 V8 Supercar Series," he wrote, "However, the relationship between the two organisations will cease as of today. While both parties have put a tremendous amount of effort into formalising the sale of the team, a number of factors prohibited the arrangement moving forward.
"Despite the breakdown in negotiations, it is business as usual for Team IntaRacing, with the team currently preparing the #77 Falcon for the Townsville street race on 10-12 July.
"Once again, I would like to extend my thanks to Sherrin Rentals for their support at a time when as a team we needed it the most and I wish them further success both on and off the race track.”
Marshall's #77 is expected to return to its original red livery for Townsville, having appeared in Sherrin's orange colours in the last two rounds.