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Corporate backing for Villeneuve’s F1 comeback

The 1997 world champion confirmed on his website a link-up with the Italy-based Durango for the 13th team on the Grand Prix circuit.

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Corporate backers are responsible for his plan for a Formula One comeback next season, former world champion Jacques Villeneuve said today.

In a statement on his website (www.jv-world.com), the 39-year-old Canadian confirmed a link-up with Italy-based Durango in bidding to become the 13th team on the Grand Prix starting grid.

"There are a number of rumours circulating at the moment and I want to clarify a few things before this gets out of hand," said Villeneuve. “The team will be a joint venture with Durango, and based out of Italy. To be clear, right now all the money comes from corporate sponsorship and not from personal investors."

Durango owner Ivone Pinton said last week that he had joined forces with Villeneuve, who would be a driver for the planned team but was also looking for a role after he stops competing.

Villeneuve, the 1997 world champion with Williams as well as a winner of the Indy 500 and CART series, last competed in Formula One in 2006.

The governing International Automobile Federation (FIA) has invited applications for the 13th slot and is expected to decide in the coming weeks whether any team has what it takes to participate at a time when some are struggling to find sponsors.

Durango ran a car for Villeneuve in the Dubai-based Speedcar series until that wound up last year, and they themselves dropped out of the GP2 support series in 2009 due to financial problems.

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