According to a very reliable source, former Formula 1 World Champion Jacques Villeneuve is set to contest the Surfers Paradise round of the exciting Australian V8 Supercars series this fall.

The news will most likely be officially announced in Australia Thursday by the organizers during a press conference.

V8 Supercars is a touring car racing category based in Australia. It features an epic battle between Holden Commodores and Ford Falcons.

Photo: Australian V8 Supercars series

Although they bear some resemblance to the production models outwardly, they undergo a high degree of modification to suit the motorsport application. The race cars are powered by 5.0-litre V8 engines of 600 horsepower. In other words, they bear some resemblance to the German DTM.

His project of returning in Formula 1 with team Stefan GP having failed to materialise, Villeneuve started at looking at other options, one of them being the Australian V8 series.

The series' organizers will apparently announce tomorrow that Jacques Villeneuve will contest the V8 race of the Gold Coast Supercarnivale held on the 2.96-km long street course of Surfers Paradise on October 22 to 24.

Rumours say that IndyCar drivers Ryan Briscoe and Scott Dixon, from Australia and New Zealand respectively, will also compete.

Heinz-Harald Frentzen, Villeneuve’s teammate at Williams in 1998, is also tipped to take part in the V8 race.