Former Formula 1 World Champion Jacques Villeneuve will return to the sport next year as a team owner. Villeneuve announced his plans recently, confirming rumors that funding for the project would come from Italian based Durango – which is owned by the son of Libyan leader Muammar Gaddafi.
Villeneuve’s plans aren’t set in stone, however, with the FIA only recently accepting applications for a 13th team. No announcement of what that team will be has been made.
Villeneuve does seem to represent a solid team, however, with serious backing and reported ties to ousted Renault team captain Flavio Briatore.
Since his departure from F1, Villeneuve has been competing in several different motorsports series and will race at the Brickyard 400 NASCAR race at Indianapolis Motor Speedway on July 25th.