Villeneuve eyes F1 return with own team

Jacques Villeneuve, former F1 world champion of 1997 is eyeing a racing return to Formula One with his own new team. The team is reportedly named "Villeneuve Racing" and a request for the license is said to have been filed at the FIA offices already.

The Belgian news agency Belga also reported that the team's base is planned to be in England but that the origins of its funds are a well kept secret.

After failing to return to F1 with the dubious Stefan GP last winter, Villeneuve is reported to be in great shape thanks to continuous training in a simulator.

The Canadian will however have to take it up against several other teams trying to make it into the 2011 championship. Among those are the likes of former GP2 team Durango, the American Cypher group and possibly the Spanish Euskadi team of Joan Villadelprat.

An FIA decision on who will be granted the 13th spot next year is expected at the end of July.