In the middle of July 2010, reports from the German media emerged revealing that Villeneuve was putting together an entry bid to join the 2011 Formula One grid with his own team under the name "Villeneuve Racing". The report went on to suggest that Villeneuve Racing had satisfied the entry criteria set by the FIA and had joined two other outfits on a shortlist of teams under consideration for the grid entry. Villeneuve subsequently released a statement confirming the existence of the entry, and that it is a collaboration with the Italian Durango team.