Jose Maria Lopez is closing in on a deal to become the Campos Meta team's reserve driver after his deal to race with the US F1 team did not come to fruition due to the American squad's problems.
Argentinean Lopez was the first driver to be confirmed at the Charlotte-based outfit, but the American team is set to miss at least the start of the season, having not even unveiled its car yet.
Lopez's management has been hard at work trying to release the driver from his contract, and is now seeking to secure a seat with the Campos Meta team.
The Spanish outfit has signed Bruno Senna and said last week it was close to a deal with India Karun Chandhok.
Victor Rosso, part of Lopez's management team, told Argentinean radio Cadena 3 that a reserve driver role at Campos was now the most likely possibility for the Argentinean.
"There are a lot of chances that he will be a reserve at Campos," Rosso said. "At this moment Felipe McGough [Lopez's manager] is finalising the details to release him from the contract with US F1 and to get his money back. It all depends on the termination of the contract.
"We made it clear to the Americans that he should not be treated like another businessman, but rather like a person that got the money thanks to a lot of effort and that this is the last chance he will have to race in Formula 1."