Rumours about a potential eleventh team for the 2018 Formula 1 season are gaining momentum.

Speculation began recently in the Montreal paddock suggesting that the new F1 team project is being backed by Chinese investors, and Auto Motor und Sport now claims that the team would be based in Oxfordshire.

Red Bull team boss Christian Horner confirmed: "Some of our people were asked if they would be interested in working for a new team."

F1's sporting chief Ross Brawn said there has been no official approach by the prospective team, explaining: "In the past few months, about ten people have asked us. But they all wanted to know if we would change the statutes so that new teams will be included in the [income] distribution.

"We have replied that we are bound by the existing contracts until 2020."

Horner added that it would now be "too late" to launch a team in time for next season.