Eddie Jordan faces an unwelcome legal bill after dropping his High Court action against Vodafone.
Jordan, whose team has struggled to continue in Formula One due to cash-flow concerns, had sued the telecommunications giants, claiming they reneged on a sponsorship deal.
He accused Vodafone of agreeing to sponsor Jordan before making a last-ditch switch to Ferrari and launched a £150million action against them.
But, in the High Court today, he abandoned that lawsuit and offered to pay Vodafone's costs.
Back in December last year Jordan settled a law suit brought against them by former driver Heinz-Harald Frentzen, who was surprisingly sacked after the British Grand Prix in 2001.
On the track, Jordan's team have struggled this season, despite claiming a bizarre win at the Brazilian Grand Prix.
Giancarlo Fisichella won for the first time at Interlagos but has failed to score points since, admitting he is unhappy with the state of the team.
Rookie Ralph Firman has scored one point so far this season.
Jordan's director of business affairs Ian Phillips insisted the team's future was secure despite the impending bill for the lengthy trial.
He said: "We have dropped the case. But the team is not in jeopardy - we will be here next week and next year."