The FIA is expected to reveal its decision over who will secure the 13th slot on the 2011 F1 grid 'within the next few days'.
With ART Grand Prix and the Cypher Group having dropped out of the race to replace USF1 on the grid, the fight for the vacant slot is believed to be between Stefan GP, Durango/Villeneuve and Epsilon Euskadi.
That shortlist could yet to reduced to two with reports in recent days suggesting that Epsilon Euskadi could instead approach fellow Spaniards Hispania Racing about joining forces in a move which could prove to be a better option for both parties.
Should that happen, then the collaboration between Durango and former F1 title winner Jacques Villeuenve is likely to emerge as the favourite for the role and the Canadian said he had been told to expect a decision before the end of the month.
"We did our presentation to a panel and there was no immediate reaction, but everyone seemed pleased," he told La Presse Canadienne
. "We don't know whether another group made a presentation or not. I know we did a good presentation. It's all or nothing; either it works and it's great, or they say no and everything we've done falls into the water. The decision will be made at the end of the month."
While a decision is due anytime soon, Villeneuve added that he was hoping it wouldn't interfere with his latest NASCAR outing this weekend in Montreal.
"I hope nothing is announced during the race weekend,” he said. “I don't want to spend my weekend discussing Formula One. But if there is a positive outcome, I will put all my efforts into building this team."