There will be a new F1 team on the grid in 2014, AUTOSPORT can reveal.
Dupont F1 claims to have the funding in place to match its ambitious aims of challenging the established race winners.
The team has been carrying out a stealth recruitment campaign of top technical personnel over the past six months. AUTOSPORT has learned that about 20 staff are already on board and the team is expanding fast with a full design team expected to be in place by October 2013.
The project is spearheaded by Vincent Dupont, a 50-year-old French businessman and entrepreneur from the cosmetics and luxury brand industry.
AUTOSPORT understands that Dupont F1 is in the final stages of negotiation with a major supercar manufacturer to become a partner in the team. It also has the backing of a significant telecoms company.
The driver line-up is expected to feature an ex-world champion and a promising rookie.
Dupont F1 intends to register as a French team, but it is currently evaluating locations for a suitable UK base.
Presentation of the Dupont F1 team is due to take place online at www.dupontf1.com at 11.55am (BST) today.
Info: Autosport.com, Image: DupontF1.com