Force India boss Vijay Mallya admits that ongoing discussions could see his team rebranded as Aston Martin.

It is understood the deal would see the Silverstone outfit's cars run in Aston Martin's blue and gold livery with sponsors including whisky brand Johnnie Walker, which currently sponsors McLaren. The Mercedes engines would be re-badged as Aston Martin, the German giant owing a 5% stake in the British company.

Whilst its motorsport activities have mainly centred on Sports Car racing, Aston Martin contested a number of rounds of the Formula One World Championship in 1959 and 1960. A return to F1 would see it battling once again with former Sports Car rivals Mercedes and Ferrari.

Whilst nobody is giving much away at present, Mallya has confirmed that the story is not idle speculation.

"There is excitement on both sides," he told Reuters, "but it still has to go through due process before we agree and shake hands on a concept, whatever that concept may be, we have not exchanged anything in terms of an outline or draft contracts.

"This is a sort of tri-partite discussion that is going on which involves Diageo with its Johnnie Walker brand as well," he added.

Aston Martin Chief Executive Andy Palmer is known to have attended the British Grand Prix in July as a guest of Force India, and it is understood that this is when talks began in earnest.

"Discussions have progressed substantially since," said Mallya. "Obviously if something is going to happen, it should happen before the start of next season because then one would have to think about the livery, the uniforms, team kit and so many other things."

Despite the proposed rebranding, Mallya insists the team will continue to be registered as Indian.

"I named the team Force India only to give India and all of the motorsport fans in my country pride of place on a Formula One grid," he said. "They've enjoyed that for eight years and now they know this team is synonymous and will still be an entry from India flying the Indian flag. So what name we run under is not as critically important as it was for the first three or four years."

Asked when an official announcement might be forthcoming, he said: "We are in discussion, nothing has been finalised, we have many options and I'll be able to confirm or otherwise once I have something to say. I don't like to count my chickens before they hatch."

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