The Formula 1 grid may not be reduced to eleven teams after all, with AUTOSPORT reporting that a group of Canadian and American investors is pushing to revive the liquidated team and take over its F1 entry.
But their takeover plans face on major stumbling block that could prevent the reborn operation from taking to the track in 2013, due to the outfit having missed the cut-off date to submit an entry for the upcoming season.
According to the report, sources have revealed that negotiations to purchase the team’s entry and assets are in an advanced stage, with there being plans for the new team to be known as Scorpion Racing.
It is understood that the plans have the blessing of F1 supremo Bernie Ecclestone, but it would still be reliant on the FIA making a special case for the team’s entry to be reaccepted on the 2013 entry list.
Additionally, the team would face a mammoth task readying a car, workforce and sponsors in time, with less than six weeks until the season-opening Australian Grand Prix.
One workaround would be to run an updated version of the Spanish squad’s 2012 Cosworth-powered F112 cars.
Expect more details on this story in the coming days – either it is genuine, or (in the case of many buyout stories) it is a complete furphy.