The FIA has proposed a spending cap to encourage more teams into F1
A racing team from Oxfordshire has said up to 200 jobs could be created if its application to enter the Formula One championship is successful.
Brabham Grand Prix Ltd has put in for a cost-capped licence for 2010. The motor sport's governing body will reveal on 12 June if the bid has been accepted.
The firm is based on the Leafield site of the defunct Super Aguri F1 team, which used to employ about 200 staff.
If Brabham is accepted, it said it would need a "similar number" of staff.
The sport's governing body the FIA has been negotiating to agree a budget cap for the first time, to encourage more teams to enter to the World Championship.
It is believed a cap of £85m has provisionally been set for teams entering in 2010, which is expected to fall to about £40m by 2011.
Brabham's principal lead Franz Hilmer owns a German tool machine firm called Formtech GmbH, which bought the assets of Super Aguri when it went into administration in the summer of 2008.
The company is not associated with the Brabham team that won two F1 drivers' and four constructors' championships between 1962 and 1992.
Mr Hilmer said he simply held the rights to the name, which he chose to reflect a historic racing family.
The family of three-time world champion Sir Jack Brabham said they were "surprised" by the attempt to resurrect the name in Formula One as they had not been consulted.
The family said they were now taking legal advice to protect their name and reputation.