1997 F1 World champion Jacques Villeneuve could be confirmed with the new Lotus F1 Racing team next week, according to reports.

The Canadian, who has missed the past three-and-a-half seasons since being usurped by Robert Kubica in the BMW-Sauber line-up, has long maintained that he is targeting a return in 2010, and recently spent the day at Group Lotus' UK headquarters [see separate story click here].

Now Sky Sports claims that an announcement will be made by Lotus before Christmas and while the Canadian maintains that discussions are still 'preliminary', he added he wouldn't have come back to Europe '...leaving my two sons far away, if I didn't believe things are moving along well'.

Lotus chief executive officer Riad Asmat told The Star that a decision will be made in the 'near future': "We will name two drivers and a reserve. Negotiations are still going on," he continued.

Meanwhile the new promoter of the Canadian Grand Prix has said that Villeneuve's return would definitely be a boost for the Montreal-based event.

"I can't deny that if Jacques is back in a F1 car it will help the Grand Prix," Octane Racing Group president, Francois Dumontier told the National Post. "People here love him. We saw how popular he is when he raced NASCAR here.

"I would be fan number one if Jacques is back in a Lotus car and if we can help him, that's what we'll do."

Lotus however, is not the only team Villeneuve has been linked to and in addition to US F1, he is also thought to have an outside chance of joining Renault in 2010 [see separate story - click here].

So do you think Villeneuve will secure a drive in 2010? Does he deserve another chance?

Have your say and let us know your thoughts in the Crash.net comments section. Get writing now!