A Formula One race could be held at the Royal Docks with funding reportedly secured for the project.

A London Grand Prix has been mooted for years but could finally come to Newham in 2023, according to the Evening Standard.

The ExCeL already hosts electric motorsport series Formula E, holding its first races earlier this year.

Mayor of London Sadiq Khan is believed to be backing the plans.

The proposal to hold a London Grand Prix in Newham has reportedly been formed by American investment company 777 Partners.

Its founder Josh Wander told the Daily Mail that it would be planning to build a sports and entertainment complex that could be used by the community all year round.

He said: "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."

Britain's Lewis Hamilton, who has won seven F1 world championships, is among the sport's stars.