Stefan GP's bid to compete in F1 has suffered another blow after reports its deal with Toyota Motorsport has expired.

The Serbian-based outfit has been campaigning to race this year for a number of months and was hoping to enter the sport using what would have been Toyota's 2010 chassis and engine - designed before the Japanese manufacturer pulled the plug on its own F1 programme.

However according to speedtv.com, when Stefan GP failed to gain an entry for 2010, that deal came to an end. Stefan GP's office at TMG's factory has also now been closed it is alleged.

Despite all this though, it appears Zoran Stefanovic's team could still race this season and there is speculation the squad could buy the entry granted to US F1 - although precisely how this would work is uncertain, especially as the FIA, the sports governing body, has already opened a new selection process to identify a candidate team for 2011.

"I think they've come together now with some ideas," F1 boss Bernie Ecclestone told Speed. "We have to find a way. They won't be there for sure for the first two or three races, whether they'll be there after that, we'll have to see."

Pressed on if Stefan GP was still a serious proposition, Ecclestone implied that it might depend on the fate of one of the other teams.

"I don't know, I doubt it because it's not fair to the others... But imagine one of these other people was in a little bit of a trouble?" he continued.

"I'm happy to have America, and I'd be happy if we had Serbia in, it's another country. The more countries, the better it is."

The official Stefan Grand Prix team website meanwhile is currently showing an "under reconstruction" notice.