Jacques Villeneuve is reportedly bidding to return to formula one next year with his own team.
Germany's authoritative Auto Motor und Sport magazine said 'Villeneuve Racing' is one of the three candidates for the 13th and final place in pitlane.
The 1997 world champion and now 39-year-old French Canadian wanted to return to the cockpit this year with Stefan GP, but the Serbian outfit was not granted an entry.
The report said almost ten candidates originally made applications to race next year, but now there are only three in the running; with Villeneuve Racing and Cypher Group among them.
Auto Motor und Sport said the third name could be Spain's Epsilon Euskadi or the former GP2 team Durango, after Nicolas Todt's ART failed at the hurdle proving finance for the 2011 and 2012 seasons.
The magazine said Villeneuve Racing has cleared all the hurdles so far, including proving an existing infrastructure for a team based in England.
The report said it is rumoured that Flavio Briatore and Pat Symonds may be involved, as might be a crew made up of former Arrows and Super Aguri staff.
The FIA's decision about the 13th team is expected in late July.
Villeneuve last raced in F1 with BMW-Sauber in 2006, losing the seat to Robert Kubica mid-season.
