Aug.12 (GMM) After a stint working on his NASCAR plans, Jacques Villeneuve has returned this week to the other side of the Atlantic to focus on setting up his own F1 team.

While also trying to land a full-time seat in America's premier series, the 1997 world champion is collaborating with the Italian former GP2 outfit Durango in a bid to fill the 13th and final place on the 2011 formula one grid.

The French Canadian publication Rue Frontenac reports that Villeneuve, 39, is now in Europe where team officials will on Wednesday present their project to authorities in Geneva.

"I'm really proud of our bid," he is quoted as saying.

"We have no control over what the others will present and how our approach will be evaluated, but everything has been done according to the requirements of the FIA.

"We have cut no corners, we have done everything by the book. My partners have done an impeccable job," said Villeneuve, who was last on the F1 grid with BMW-Sauber in 2006.

It has been reported that Villeneuve/Durango is competing with two rivals for the 13th team entry -- Epsilon Euskadi and Stefan GP.

"We don't know how many people are presenting a dossier, let alone who they are and their seriousness," insisted the winner of 11 grands prix.

"Also, the FIA has not committed to having a thirteenth team if a project is not consistent with their requirements," said Villeneuve.

"If we do get the place, then the real stress will begin!" he added. "It will be difficult to be competitive in 2011, we know that, but we are not building a team only for one year."

Long-time McLaren team boss Ron Dennis commented: "The finances will decide everything.

"Everyone in the world of F1 hopes it works out -- it's always good to keep the sport's champions around. But I repeat that it will require extensive financial resources.

"This is not a sport for the faint of heart," added the Briton.

Latest F1 News - Mobile version

26 Feb: New Ferrari not quickest in field - Domenicali 26 Feb: Red Bull still best in 2013 - Tost 26 Feb: 2014 French grand prix 'possible' - Prost 26 Feb: Danica Patrick 'not interested' in F1 switch 26 Feb: Report - Gilles Simon working on F1 engine for Honda 26 Feb: Gutierrez plays down link to Carlos Slim 26 Feb: Caterham exhaust 'legal' insists van der Garde 26 Feb: McLaren replaces Mercedes-bound Lowe 25 Feb: 'Engine maps' trouble for Red Bull, Lotus - report 25 Feb: Mercedes-bound Lowe to miss 2013 opener - report 25 Feb: Mercedes 'in group of teams' behind Red Bull - Lauda 25 Feb: Gutierrez expects Hulkenberg to beat him early in 2013 25 Feb: New Ferrari 'much better' than 2012 - Massa 25 Feb: Teams 'will adapt' to new tyre situation - Gutierrez 25 Feb: Tight rules make today's F1 cars 'the same' - Forghieri 25 Feb: Williams removes controversial exhaust trick 25 Feb: Contract 'conflicts' cause of Marussia test snub - Razia 25 Feb: Lotus to fight Red Bull for title - Gutierrez 25 Feb: Marussia 'ahead of Caterham' - Chilton 25 Feb: Sutil will not stay in F1 as test driver The latest F1 News - Mobile Version