Ousted chairman Ray Bellm and president Sir Jackie Stewart have been at loggerheads since the five year deal to promote the British grand prix.
With Stewart saved, Bellm quit altogether.
But Blundell, 39, and also a special F1 commentator for British TV, said not standing for re-election is exclusively to do with a new driver-management company jointly run by Martin Brundle.
"The BRDC takes up quite a bit of time as a voluntary role," the Englishman explained.
Blundell declined to comment on the BRDC situation. -GMM