A blueprint for Formula 1's proposed 2021 overhaul will be presented to all teams on March 26 in London.
But Formula 1 CEO Chase Carey claimed prospective new teams have already expressed interest in joining the category in 2021 with speculation growing that the field may be boosted from 10 to 12.
Formula 1 owners Liberty Media have worked on a revamp of the sport since taking over the category in early 2017 in a bid to cut competition costs for teams and provide a more balanced distribution of revenue.
Carey and motorsport governing body FIA's president Jean Todt confirmed they would unveil the sport's future direction by revealing prospective 2021 rules at a strategy group and commission meeting in London later this month, just days ahead of the Bahrain Grand Prix.
"We should be ready with the global package and the commercial side, financial side, which is the responsibility of Formula 1," Todt said in Melbourne ahead of the Australian Grand Prix.
"We have the cost control, which is a new initiative which is quite well advanced.
"We have engine regulations which have been sent to the teams a few days ago, and we have chassis regulations, and we have the governance.
"Those are all the different chapters on which we are working, and we should be in a position to have a finalised package to discuss with the teams on March 26."
While they are yet to attract a new engine manufacturer, Carey said there was already "real interest" from prospective new teams.
"We have had, more on the teams side than the engine side, a number of potential new entrants that expressed interest and enthusiasm if we provide a structure that they think enables it to be something they could enter more constructively," he said.
Todt said he would "love" to have a 12-team Formula 1 field in the future.
F1 has not boasted a 12-team grid since 2012.
"F1 should have 12 teams but of course it would pose a problem, because if you have 12 teams with certain revenues to distribute, those would have to get less income," said Todt.
"They would not be happy. But that is what F1 should be."
But Red Bull team boss Christian Horner baulked at expanding the field.
"I always go for quality over quantity. I think we've got 10 teams that are in pretty decent health at the moment, compared to previous years," he said.
"I think we have a good balance at the moment and I prefer that we look after what we've got than inviting more entries for the sake of filling the grid."
Australian Associated Press