Germany's Auto Motor und Sport said the ousted and formerly banned Italian is busily writing regulations for a 'GP1' championship.
They could be adopted should the FIA not sign up to the 2013 Concorde Agreement, according to the report.
Apparently, the political rumblings in F1 at present are not limited to the sport's planned floatation, or Bernie Ecclestone's spat with Mercedes.
Cost-control is also a buzzword. As reported recently, the vast majority of F1's teams want the FIA to enshrine cost-cutting in the actual sporting regulations, even to the point of pushing for a once highly-controversial budget cap.
F1 chief executive Ecclestone, however, is not famously close with the FIA's new president Jean Todt, and according to Auto Motor und Sport he is not convinced that the Paris federation needs to write and control the rules.
Enter Briatore. The German report said Ferrari will be a fan of the former Renault chief's rumored regulations, as they steer away from the premium on aerodynamics.