Team Aguri has confirmed that the outfit is subject to a bid from an investment company and has subsequently entered a period of consultation about its future ownership.

It is believed that a Chinese group called Chinese Media Capital will invest in the team, making Team Aguri the second Chinese Team on the grid.

As a result, it is anticipated that Aguri Suzuki’s affiliation with the team will come to an end over the coming months, with the team becoming registered as a UK entrant in the FIA Formula E Championship, having withdrawn its JAF licence.

However, with the Chinese investment coming to the team are set to become a Chinese team in Season three, and a name change is expected.

Former HRT F1 test driver Ma Qinghua is set to take over the number 77 car, leaving Salvador Duran without a seat for the remainder of the season.

A spokesperson for the team commented: “Aguri Suzuki played a fundamental role in the formation of the team, and we would like to thank him for his continued support. We are now entering a new phase for the team and are in advanced discussions with new investors, but will not be able to comment further at this time.”

Further announcements on the deal and driver lineup will be made over the next couple of days.