Former Formula One champion, the Canadian Jacques Villeneuve, and his Villeneuve racing has linked up with Italian team Durango to bid for a 13th slot on the Formula One grid next year.

The Fédération Internationale de l'Automobile (FIA), the motorsports’ world governing body, is expected to decide later this month if any of the bidders meet the standards required to be awarded the slot.

“I really hope together we will find a place," Durango owner Ivone Pinton told Italian website 4:2:2race.com according to news agency Reuters. “We still don’t know where the car would be built, but the team’s base will definitely be ours, in the [Italian region of] Veneto.”

“As well as being the driver, I’m sure he will make a useful contribution to the company. I think he’s preparing a job to do after he hangs up his helmet,” Pinton added.

Villeneuve had already told the BBC that he was “working hard on a Formula One project”, but did not want to give more details.