Jacques Villeneuve confirmed to Britain's BBC that he is working on an "F1 project," although the 1997 World Champion declined to confirm reports he is bidding to return to the grand prix grid next year with his own team.
"I've never made it a secret that I'm working hard on an F1 project," the 39-year-old French-Canadian told BBC Sport, "but I've not discussed the details or what my plans were and I won't be drawn on it now. I'm not commenting."
Villeneuve's long-time manager, Rick Gorne, who was involved in the establishment of the British American Racing squad in 1999 that fielded Villeneuve, added: "There is an element of truth in the rumors. "F1 is a possibility – he does have the intention to get back. It's a project we're working on."
Villeneuve had hoped to get back into F1 this season with the Stefan GP team, but the Serbian group was unable to secure an entry from the FIA. Germany's Auto Motor und Sport reported Thursday that Villeneuve was attempting to set up a Villeneuve Racing team, to be based in the UK, and that a bid had been placed by this group with the FIA for a 2011 entry. The American-based Cypher Group is also among the bidders for a team entry for next year.