Due to continued speculation within the media, Jacques Villeneuve has made the following statement:
“There are a number of rumours circulating at the moment and I wanted to clarify a few things before this gets out of hand.
“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.”
Villeneuve has no further comment at this time, as he focuses on qualifications for the Brickyard 400 at Indianapolis Motor Speedway, this coming weekend.
Villeneuve added: "I’d like to thank my fans for the continued support they give to me - as always, it is greatly appreciated."