Although Great Britain already hosts a Formula 1 Grand Prix, it could get a second one that will take place in the streets of London.

Rumors have swirled about a street race being held in the British capital for a number of years now and apparently, U.S. investment firm 777 Partners and an unnamed UK sports group are pushing forward with plans to make it a reality.

It is understood that the circuit will be established at the Royal Docks in Newham in East London, near the London City Airport on the River Thames. Metro reports that the proposed Grand Prix has the backing of London mayor Sadiq Khan and would serve as the second British F1 race on the calendar with Silverstone having secured its place through 2024.

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“We are hopeful that it is coming. We are hugely excited about it,” 777 Partners founder Josh Wander said in a statement. “There will be an electric atmosphere as the greatest athletes in the world, along with an international fanbase and the world’s largest companies as sponsors, descend on the Docks for race weekend. More importantly, we will build a world-class sports and entertainment complex that can serve the community year-round and revitalize the surrounding areas. It is the type of thing you really can’t quantify until it actually happens, but the impact is dramatic.”

While investors are keen to add a second British Formula 1 race, the plans haven’t been approved by F1 owners Liberty Media. It is also uncertain if the London Grand Prix would replace an existing race or if it would simply be added to the calendar.

In October, the provisional calendar was released for the 2022 F1 season featuring a record-breaking 23 races. The most notable inclusion to the season will be the new Miami Grand Prix held on a dedicated street circuit and acting as the second race in the U.S. after the Circuit of Americas in Austin, Texas.