Rumors about a potentially new Formula 1 team for next season are gaining momentum.

The story first began circulating within the Montreal paddock, including suggestions that the new operation was being backed by Chinese investors. Germany's Auto Motor und Sport now has more details, saying the team would be based in Oxfordshire, England.

Red Bull team boss Christian Horner had heard some rumbling too.

"Some of our people were asked if they would be interested in working for a new team," Horner said.

It is believed that several former Manor employees have signed up to join the project. However, F1’s sporting director Ross Brawn says no such team has made an official request to the sanctioning body.

"In the past few months, about 10 people have asked us," he said. "But they all wanted to know if we would change the statutes so that new teams will be included in the (income) distribution.

"We have replied that we are bound by the existing contracts until 2020."

And Horner thinks that if the Chinese project does have the money, time is now a major obstacle ahead of the 2018 season.

"It is actually already too late to start a new team for next year," he said.

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