Super Aguri’s brief stint in Formula One ended Tuesday when the Japanese team withdrew from the F1 World Championship due to financial difficulties.

“I have participated in the championship for two years and four months,” team president Aguri Suzuki told a news conference.

“I regretfully must inform you that the team will be ceasing its racing activities as of today.”

Super Aguri, who have struggled since their debut in 2006, held talks with their backer Honda on Friday in Tokyo to discuss the team’s future, but were unable to find a solution to their problems.

The team were denied access to the Turkish Grand Prix circuit ahead of this weekend’s F1 round at Istanbul amid reports Honda does not want the team to be a drain on their own racing unit. The future of the Japanese team has been in doubt since a potential buy-out by British auto company Magma Group fell through last month.

The team has reportedly also been in talks regarding a buy-out with German automotive firm Weigl Group.

“I knew after we weren’t able to reach a deal with Magma that it would be difficult to go on,” said Suzuki, a former Formula One driver.

Suzuki said “a breach of contract” by promised partner SS United Oil & Gas Co. resulted in the loss of financial backing and put the team into financial difficulties.

Super Aguri signed a sponsorship deal with the oil and gas company before the start of the 2007 season.

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