Prodrive could be set to lodge an application to fill F1's thirteenth team spot on the 2011 grid.
Headed by the experienced former Benetton and BAR chief David Richards, the British outfit was granted an entry in 2008 but pulled out due to a row about 'customer car' rules.
Another application was lodged for 2009, but the door was instead opened to F1's current new teams -- perhaps due to their commitment to race with the FIA-preferred Cosworth power.
Autoweek now claims Prodrive is "actively evaluating a new bid" to form a team following a board meeting headed by commercial director Tony Schulp.
Spain's Epsilon Euskadi has also indicated it will try again to gain entry to F1, and Autoweek said Lola is expected to do the same.
"Neither intends to make a formal statement until the FIA's closing date for 2011 entries on April 15," read the report.