Senna, who holds the key to this year's junior single-seater driver market with GP2 teams waiting for his decision before firming up their plans, tested impressively for Honda F1 before Christmas.
He had been expected to return to iSport after Honda announced its withdrawal from F1 soon after his run at Barcelona.
However, Senna informed iSport early this week that he will hold out for an opportunity in F1 this year, rather than return to their GP2 line-up.
His only option for a race drive would be at Scuderia Toro Rosso or whatever form Honda F1 might take on if the Brackley-based team continue to operate under new ownership.
Autosport.com can also reveal that Norfolk-based iSport have now set the wheels in motion to sign another Brazilian, former DPR racer Diego Nunes, to partner Giedo van der Garde for GP2 in 2009. They hopes to tie-up the deal by the end of the week.
For the full background to the story, read this week's Autosport magazine.
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