"It can improve, it has owners that want to move it forward and turn it into a good midfield outfit," he said.

"I'm not going to start until Nov 1, so I think the start of next year will be pretty difficult again, but obviously we will be looking to improve the team as soon as possible.

"We need to be ready so that we can make an impact (in 2008)... I don't think you can expect too many results at the start of next year."

Gascoyne said the team would remain Silverstone-based and current technical director James Key would retain his title.

"It will be a chance for him to learn from me how to do his job and become a better technical director in F1 so I think he views it very positively," he said.

Gascoyne, who left Toyota in April, said he was eager to return to work.

"Initially you've been under pressure and you're relieved just to have a break," he said.

"Then I went through a period of thinking I don't particularly want to come back, I'm relaxed and enjoying myself. And then you come out of that, and you are sitting there watching the races and the fire re-lights.

"That certainly happened to me over the last month."

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