Stefan GP, the Serbian wannabe F1 outfit whose dream was killed off mainly due to the fact that it had no money, is now understood to be looking at an alternative project. Funding a Serbian Grand Prix circuit.

While some were taking Stefan GP's F1 bid extremely seriously, in much the same way as they fell for Simon Gillett's constant assurances regarding Donington, Pitpass was able to reveal that AMCO - the company behind the Serbian hopeful - had business income of just £2,800 (356,000 Dinars) in 2008. Indeed, its net income for the year was a somewhat minuscule £40 (4,000 Dinars) and had just one employee. By comparison, USF1 was a serious contender, hell, even Britannia Racing was a serious contender.

Now, news reaches us that having given up on its dream of an F1 team, Zoran Stefanovic (right) and Stefan GP is looking at another way of getting involved in the sport, namely by investing in a race track capable of hosting a Serbian round of the world championship.

Authorities in Stara Pazova, a town (population 18,645) in the Srem District of Vojvodina, having almost completed work on a "national house of football", is now looking at the possibility of building a 3,550 metre race track capable of hosting car and motorcycle racing. The circuit, which, according to reports, "which would attract the most famous names of auto racing", is being built to "Formula 1 standards".

And, according to one report, the Stefan GP Corporation is "willing" to invest twenty-million euros in the project.

If Bernie's reading this, possibly salivating at the prospect of a further race 'out east', the good news is that Stara Pazova already has its own airport. Sadly, however, Cmelik Airport, which uses around 5 km of road near Stara Pazova is mostly used by ultra light planes and engine powered kites.