The iconic Brabham name will return to motorsport in 2015 after it was announced a new 'crowd-funded' team will be created to compete in the World Endurance Championship.

Borne out of the recent resolution over an ongoing legal battle for the rights to the Brabham name, former F1 driver and sportscar champion David Brabham - son of the late F1 title-winning Jack Brabham - has now revealed his 'Project Brabham' plans will go live in 2015.

The Brabham Racing moniker has not been seen in motorsport since 1992, but the revival of the name will begin with a planned season in the LMP2 class of the World Endurance Championship, with a view to competing in the Le Mans 24 Hours.

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"We have endured a long and testing journey to protect and bring the Brabham name back under the family's control, then decide the next step in the journey of this iconic brand," team principal David Brabha said. "I have long dreamt of seeing the Brabham Racing team back out on the track, winning at the highest level and continuing the legacy my father laid down when he first started the team in the Sixties.

One of the unique aspects of the project is the decision to offer 'crowd funding', which allows the general public to pledge monetary support for special access and privileges to the team's racing activities.

"Crowd-funding gives people the chance to be part of the team from the start. Once we have built a large community we will start to see the power of a collective force that will attract the funds and partners to make this journey a success. Come and join us and create another piece of history."

At the time of writing, the project has already raised almost ?3,000 in less than an hour of the announcement being made, with a target of ?250,000 before 1st November.

Those pledging just ?1 will "become an official Brabham supporter and receive regular updates', while those wanting to spend as much as ?125 will receive 'complete access to all three of the Brabham experience (Fan, Driver, Engineer online portals) and gain lifetime access to all three web applications. In addition, you will be entered into a prize draw where 50 early-birds will be given one "Golden Ticket" to a landmark Brabham Racing event'. Donations can be made at https://www.indiegogo.com/projects/project-brabham

David Brabham is a three-time Le Mans 24 Hours winner, once overall with Peugeot in 2009 and twice with Aston Martin in the GT1 class.