Accident Exchange has announced that the problems currently affecting the world's economy means it will step down as a sponsor of HiQ MSA British Touring Car ace Mat Jackson in 2009.

However, the company said in a statement last night that it has ambitions of returning as a sponsor in the BTCC in the future.

Its support of Jackson had led to his Jacksons Motorsport team being rebranded BMW Dealer Team UK. But while the Dealer Team and Accident Exchange names might be missing from 2009's grid, the Jacksons' family-run team - which ran under its own title in 2007 - has every ambition of being there (see separate story).

In its statement, Accident Exchange's chief executive Steve Evans said: "Experts are telling us that the current economic downturn is going to be a long-term issue and we feel it is important to concentrate our financial spend on providing better support to our BMW dealer partners in the coming period.

"We felt it was more appropriate to assist them in retaining customers and converting new business opportunities into profit over the next 12 months.

"Our debut BTCC season was nothing short of spectacular thanks to the hard work, passion and vision of the team and, of course, the efforts on the track of our driver, Mat Jackson.

"Our BTCC experience has been very positive and we look forward to reconsidering entering the series again when global economic conditions have improved."