Le Mans 24 Hours legend Henri Pescarolo has set a deadline of September to put together a deal to relaunch his team in next year's World Endurance Championship.
Pescarolo, whose eponymous team has not competed since the Le Mans race in 2012, is trying to put together a one-car LMP1 privateer campaign for '14.
He estimates he needs to find a budget of around £4 million, which would include the purchase of a car built to '14 rules.
Pescarolo said: "I am working very hard to find the money to do it, but I am still a long way away. I will wait until September to see if I can do it, but after that it will be too late for next year.
"I was with Pierre Fillon [president of Le Mans organiser the Automobile Club de l'Ouest] recently and he said that they really want privateer P1s back and that they will have the right regulations, so I hope I can do something."
No decision had been made on which chassis the team would use should the budget be found. Pescarolo said that his options were the new Dome, the German ADESS AG group's proposed chassis and OAK Racing's latest LMP1.
Pescarolo, who was due to link up with Sebastien Loeb Racing for its proposed LMP2 campaign this year, ruled out running in the secondary prototype category next season.
Pescarolo Team went into liquidation in January, but the Frenchman retained ownership of the squad's premises on the Le Mans Technoparc and its equipment.
The team was established as Pescarolo Sport in 2000. It was sold to the Sora composites group over the 2008-09 off-season before closing its doors in '10.
Henri Pescarolo regained ownership for 2011 and relaunched the squad as Pescarolo Team and mounted a successful assault on the Le Mans Series. The team ran out of funds after Le Mans last year and withdrew its Aston Martin-based Pescarolo 03 from the WEC.