Jan.30 (GMM) A new formula one team could rise from the ashes of the failed Spanish outfit HRT.

Reports - including in the Spanish newspaper AS - claim a group of investors from Canada and the US want to enter this year's world championship with an evolution of HRT's 2012 car, featuring a Cosworth engine and Williams gearbox.

The team is reportedly called Scorpion Racing, and the Press Association said it would be based at Silverstone and operate with equipment bought from HRT.

But there could be an issue with getting up and running for 2013, given that the official entry deadline for this season's championship closed last November.

Bernie Ecclestone is quoted as saying: "I've spoken to them and told them to get in touch with the FIA and ask for an entry.

"They want to buy all the bits from HRT, then form a company and ask for an entry, but I personally don't think it will happen. It's all a bit too late. Maybe they could do it for next year."

The Press Association said the FIA did not want to respond in detail until it receives more 'concrete' information from Scorpion.

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