Formula One boss Bernie Ecclestone has offered to stump up £35-million (R460-million; $54.5-million) to stage a grand prix around London's famous streets, the Times reported on Thursday.
The 5.1km route will be unveiled when the full plan is presented later on Thursday, but it would take in landmarks including Buckingham Palace and Trafalgar Square, the report said.
Organisers estimate 120 000 spectators would flock to the showpiece event — making it the biggest race on the tour — and hope the money they would spend would more than cover Formula One's investment.
"Think what it would do for tourism," Ecclestone told the paper.
"It would be fantastic, good for London, good for England — a lot better than the Olympics," he added.