This weekend’s Japanese Grand Prix will see the announcement of an all-new F1 team with cars built by an Italian racecar constructor, and they could be on the grid by as early as next year…

This weekend’s Japanese Grand Prix will see the announcement of an all-new F1 team with cars built by an Italian racecar constructor, and they could be on the grid by as early as next year…

With the cars built and prepared by Italian car constructor Dallara, the team initially expected to join the F1 grid in 2006. However, the Italian firm has been working hard for several months to prepare a chassis, reported, and there is growing speculation that the team could be in action by next season.

Dallara had planned to build a test chassis for 2006 and run with Cosworth engines while gathering F1 data and knowledge. The company has not built a full-spec F1 car since its abandoned attempt with Honda in 1999, and last competed in the championship in 1992.

The project is believed to be either Russian or Canadian-backed. Apparently, the backers are eager to compete in next year’s series and may even make a bid to buy Jaguar, gaining ready access to its facilities and technology.

Former Jordan technical director Gary Anderson has also been linked to the new Dallara team.