A Czech racing team owner is in talks with DTM about hosting a round of the German touring car series near the capital city Prague.
Autoweek reports that Toni Charouz, who has been involved with Le Mans, A1 and DTM teams, also wants to bring formula one to the Czech Republic.
"Formula one is the ambition," he said. "If we put on a good show with the DTM, then maybe we can have a grand prix, but we've got nothing on paper yet."
Regular F1 track designer Hermann Tilke has already produced a rough draft of a $166m part-permanent facility, which would be located very close to the city centre.
Charouz, targeting the first races for 2012, said the planning process is "90 per cent complete".
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