Pons Racing, one of MotoGP's longest-serving grand prix teams, has announced it will exit the Moto2 World Championship stage at the end of the 2023 season.

The Spanish outfit, headed up by eponymous founder Sito Pons, has been a mainstay of the GP paddock for three decades having made its debut during the 1993 500GP season after bringing his racing career to an end.

However, Pons has opted to shutter the Moto2 arm of the team, this year campaigning with Sergio Garcia and Aron Canet.

"Sometimes you have to make certain decisions and I think now is the time to close this very successful period that we have enjoyed with the team.

"From my time as a rider, it's 42 years in the championship and when we made the project we knew we wanted to be a protagonist team and season after season we have always been fighting among the best.

"And our time in MotoGP was very successful, as well as the years in Moto2.

"I am proud to have contributed to the development of the sporting careers of all these riders and that some of them are still protagonists in MotoGP today.

"The commitment of PONS Racing has always been to support the Spanish riders and to serve as a launch path for them in MotoGP and we have done so, providing them with the best tools to achieve the best results and training them both professionally and personally."

Pons Racing enjoys an excellent track record in both the premier 500/MotoGP and the intermediate Moto2 category, scoring wins with Max Biaggi, Alex Barros, Makoto Tamada and Loris Capirossi in the former, while it was a title winner with Pol Espargaro in 2013 in the latter.

In Pons Racing's place will come the MT Helmets - MSi team, currently racing in Moto3 with Diogo Moreira, with the Spanish team planning to graduate with the Brazilian rider.