Baku, October 5, AZERTAC

Formula 1 has responded to suggestions from a Spanish entity that it is planning an entry for 2021 by stating it is in "no serious discussions" with potential new team, according to Autosport.

A press release was issued earlier on Thursday on behalf of a prospective team with links to F2 outfit Campos Racing and MIM, the Monaco-based management company that looks after Pascal Wehrlein and Super Formula driver Alex Palou.

It named former Super Aguri men Peter McCool and Ben Wood as the key technical players already involved in the project, and specified dates of prior meetings with F1 boss Ross Brawn - both at the Spanish Grand Prix and in London.

The statement claimed "the team is now at an advanced stage of negotiations with current Formula 1 teams and engine manufacturers to ensure the best possible partnership for a competitive Spanish Formula 1 team from 2021 and onwards".

Earlier this year another project, under the Panthera Team Asia name, revealed it had a team of designers working at a Silverstone base.

F1 stressed on Thursday it has no immediate plans to allow a new team in.

A statement read: "Following publicity in recent days from several entities that have indicated their ambition to participate in the FIA Formula One World Championship from 2021, while Formula 1 appreciates their interest, we can confirm that there are no serious discussions with any persons or companies about the admission of a new team."

That view echoes an interview Brawn gave at Spa, in which he made it clear that F1 would only consider serious proposals and that the door would not be open until at least 2022, once F1 had stabilised after a raft of rule changes.