There have been reports that former GP2 champions, iSport, are looking to enter the 20210 Formula One world championship after comments made over the Bahrain Grand Prix weekend were taken out of context.

While team principal Paul Jackson admits that a move up into the pinnacle of Motorsports is a very interesting concept, especially with the new budget cap proposed by the sport’s governing body, the FIA, they would have to wait and see what the actual proposal will entail.

The FIA World Council will meet tomorrow and the full details of a budget cap in the sport will be confirmed. Therefore, if the conditions are right, then the possibility of iSport moving up into the world of F1 would become a strong possibility.

"For many years I've said if the conditions were right and the numbers made sense, then we'd enter F1," Jackson told Autosport. "The budget cap could be the perfect opportunity for us, but until we find out what the magic number is, I don't know if it's do-able or feasible. When it's all in print, we'll look at it, start doing our sums and talking to potential investors.”

“Until then, it's all speculation but there have been a few outrageous stories about us doing it. Of course we'd like to do it, and I think we can do a good job in F1, especially as we'd be working our team up to a budget cap, whereas the others would be coming down. But there's no way we could come in and take on the big boys. We'd simply be aiming to break in to the top 10."