Grace Autosport was launched last May by former Chrysler Dodge marketing director Beth Paretta, with Legge named as driver.

Although originally the intention was for Grace Autosport to be a pioneering all-female IndyCar team and, as Motorsport.com understands, the aim to use the opportunity to help promote technology and engineering as a career path for women is set to remain intact. Legge remains a member of the FIA’s Women in Motorsport Commission.

KVSH co-owner Kevin Kalkhoven was unwilling to talk about the deal, saying: "It's just a strong rumor. No contracts have been signed yet."

The partnership with KVSH would reunite Legge with Kalkhoven and Jimmy Vasser, the duo who, along with former team partner Dan Pettit, brought her into top-rank U.S. open-wheel racing in 2006. PKV Racing ran Legge in Champ Car on the strength of her three wins and third in the Atlantic Championship in ’05.

The 35-year-old Briton has raced for DeltaWing for the past two seasons in the IMSA United SportsCar Championship, but has also made two runs at the Indy 500 – once with Dragon Racing in 2012, and then again a year later with Schmidt Peterson Motorsports.

KVSH Racing-Chevrolet will thus run three cars in the Indy 500, with the team's only full-timer Sebastien Bourdais joined by Matt Brabham (who will also compete in the GP of Indy) and Legge.