A former FIA and Formula 1 team director is reportedly plotting to revive the 'World Cup of Motorsport' A1 Grand Prix series.
A1GP launched in 2005 and ran for four seasons until it was liquidated in 2009. But Sky News reports former Alpine director Marcin Budkowski is leading the project and is working with Sir Keith Mills, who spearheaded the bid for London to host the Olympic Games in 2012.
The open-wheel series was last held in 2008/09 with Team Ireland the champions that year. The most notable A1GP winner was Nico Hulkenberg, who won the 2006/07 title for team Germany alongside Christian Vietoris before going on to compete in F1.
Project bosses are sounding out investors to raise around £80m to finance the project. If successful, it is anticipated that 20 teams from countries around the world will take part.
As was the case in the series' first iteration, each team would compete in equal machinery. Chassis and engine manufacturers have not yet been chosen, though Sky reports the cars would have top speeds of around 220mph and run on sustainable fuels.
Rather than compete against F1, the series would attempt to augment it and would hold many of its races outside of the F1 calendar. A 12-race annual schedule is planned for A1GP with the season to begin in December and run until July.
Each nation will field two drivers with one of them having to meet restrictions. While experienced racers can be fielded, the other drivers would be younger competitors chosen through an unspecified annual talent competition.
A1GP's demise came as the series ran out of money in the midst of the global financial crisis. But there is a larger audience for motorsport these days thanks to the growth of F1, and project leaders are hoping to capture the interest of those new racing fans.
The Sky report claims teams from Britain, the US, China, Italy and Saudi Arabia could be fielded, among others. It is not yet known whether Ireland would choose to defend their title from 2009.