Canadian officials of the axed Canadian grand prix are searching for a new race promoter, following their London meeting on Thursday with Bernie Ecclestone.
Montreal mayor Gérald Tremblay said after the meeting with the F1 chief executive that it is "still possible" the event could be returned to the 2009 calendar.
According to the French language Canadian news agency La Presse Canadienne, Quebec minister Raymond Bachand - who was also present for the two-hour meeting - has now offered more details.
"We must find a promoter from the private sector who will take the event into their hands," he is quoted as saying at Montreal's Pierre Elliott Trudeau airport.
Rumours suggest that the saviour could be in the form of Guy Laliberté, the founder of the Cirque du Soleil and an avid supporter of both F1 and the annual race at Circuit Gilles Villeneuve.
But Cirque spokeswoman René-Claude Menard said: "The only role that Guy is playing has been as a consultant, that's all.
"Right now, we're just keeping a close eye on any subsequent developments," she added.