F1 could have new teams for 2019 - Todt

Jean Todt has not denied that a new team might be lining up to enter formula one.

There have been rumours a new project backed by Chinese investors has been shopping around at existing teams for personnel.

And now, Brazil’s Globo reports that a company called China F1 Racing Team has been registered at Companies House in Britain.

Indeed, filed documentation shows that the London based company, with a single director who has been in business for many years, was previously called Bronze Fortune.

FIA president Todt is quoted by France’s L’Equipe: "We currently have ten teams but the idea is to have twelve.

"There is an opportunity for one or two teams to join F1. There are a lot of rumours in this area, but there is a clear interest from several sides," he added.

However, Todt said there would be no time for a new outfit to be up and running in time for 2018.

"When we see that the right time has come, we will announce a process for potential new teams," he said.