Spanish outfit Epsilon Euskadi has confirmed that it has re-opened its plans to try and compete in F1.
Following the failure of the US F1 team, there is currently a vacant slot at the pinnacle of the sport and the FIA announced last week that it has opened a new selection process to identify a candidate team for 2011. Applicants have been told to register a 'formal expression of interest' by April 15, with full applications submitted by the end of June.
"We were ready in June [last year], we had the financial support, but for whatever reasons we were not chosen," team boss Joan Villadelprat told ESPNF1.com
"We will re-open the project and my job is to re-gather all of the support that we had. If the FIA gives us enough time to be ready for next year, we can be in F1."
It is understood that Epsilon Euskadi was considered a serious applicant in 2009 - along with the likes of Prodrive and Lola. However, Villadelprat's team eventually lost out to Lotus, Virgin (formerly Manor Grand Prix), HRT (formerly Campos) and the seemingly defunct US F1. The FIA is expected to make a decision this time in July.
Epsilon Euskadi currently competes in the Le Mans Series and the World Series by Renault.