FIA president Jean Todt would be open to increasing the size of the current Formula 1 grid amid speculation of interest from potential new teams.

In recent days it was revealed a Chinese consortium is pushing for a future entry and has already hired former Manor employees as well as approached engineers at Red Bull. On Wednesday, another step was taken with a company in Britain registering under the name of China F1 Racing Team Ltd.

Managing director of motorsport, Ross Brawn also claimed 10 parties had made contact regarding one of the current two open places available, following the collapse of those teams that joined the grid in 2010 but were reliant on F1's new bosses implementing a fairer revenue distribution between the teams.

Asked whether the governing body was considering any expansion, Todt said: "At the moment we have 10 teams and the idea is to have up to 12 teams, so if we have one or two strong newcomers it could be possible.

"When we feel it is time, we will be able to make a tender."

The Chinese interest is one of the numerous potential future F1 projects being reported with both Porsche and Audi believed to be contemplating at least becoming engine suppliers, while Ferrari has previously touted the possible rebirth of Alfa Romeo.

"First we need to check ourselves the request, going through a kind of audit to see who are the potential buyers,” Todt continued, explaining the process.

"If it's a big manufacturer, it's easy, if it's a privateer, you need to be more careful.

"And then, once you are sure that there is a real interest, and once you're sure that people are able, like it was the case with Haas, for example, then we make tender.

The Frenchman also ended talk of a new team in 2018 when asked, claiming: "No, it would be foolish to think that a new team would be ready in eight months, even less."