Team Sydney Supercars squad on the market

Motorsport.com sources have indicated that a speculative sale process has kicked off for the two-car Holden team.

It's currently owned by the Webb family and run by former Bathurst 1000 winner Jono Webb and wife Kobe Webb.

The team, formerly known solely as Tekno Autosports, was awarded the tender of sorts for the Team Sydney concept ahead of the 2020 season.

The idea of Team Sydney was to penetrate the Sydney sponsorship market and draw fans out of the city's huge population.

Part of the plan was for the team to be based out of a brand new state-of-the-art factory at Sydney Motorsport Park.

However there have been complications from the start. Star driver James Courtney walked out of the team after just one event at the start of 2020 ahead of a difficult first campaign for the squad.

It has since stabilised its driver situation to some extent, Fabian Coulthard and Garry Jacobson now forming an experienced pair at Team Sydney, however there has been little in the way of results.

The new factory, meanwhile, is yet to materialise. The team has been partially based in Sydney, in an existing building at SMP, but issues with borders due to the pandemic has seen it mostly operate out of the Tekno base in south east Queensland.

Long-time motorsport competitor and backer Chad Parrish has been linked to the potential sale, although whether he is a prospective buyer or merely involved in brokering the sale isn't entirely clear.

Motorsport.com has contacted Team Sydney for comment.