Christian Horner made his return to the motorsport paddock this weekend at the Spanish MotoGP event in Jerez, where cameras captured him alongside Honda Racing Company chief executive Koji Watanabe.
The 52-year-old former Red Bull team principal was among the invited guests at the circuit, having received an invitation from F1 president Stefano Domenicali and Liberty Media.
Speaking to Ziggo Sport during the event, Horner expressed his enthusiasm for two-wheeled racing: "I've always been a fan of the bikes.
"Watching them hit such incredible speeds on a straightaway is truly astonishing. Now that I have some spare time, it's a real pleasure to come and watch MotoGP."
Christian Horner was spotted at the Spanish MotoGP at the weekend
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Liberty Media, which acquired a controlling stake in MotoGP through a £3.11 billion deal last year, reportedly views Horner as a figure capable of elevating the championship's global appeal in the same manner he helped transform Formula One.
According to The Sunday Times, the former team boss has assembled financial backers with sufficient resources to pursue any F1 outfit, with top teams valued at approximately £6.5 billion.
However, the principal challenge lies not in funding but in locating a willing seller.
The report suggests Horner allegedly "made enemies" throughout his two decades in the sport, potentially complicating any acquisition negotiations.
Since departing Red Bull mid-season last year following performance-related issues, Horner has been connected with virtually every team on the grid.
The most prominent link involves a 24 per cent shareholding in Alpine, which has become the subject of a bidding contest that also features Mercedes boss Toto Wolff.
Christian Horner was sacked by Red Bull last year
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Horner's exit from the Milton Keynes operation came after he had served as team principal since 2005, guiding the outfit to eight drivers' world championships and six constructors' titles.
Prior to his departure, he had faced allegations of inappropriate behaviour, though he was subsequently cleared of those claims.
Under the terms of his £80 million settlement with Red Bull, Horner will be legally permitted to work within an F1 paddock from late next month.
Yet reports indicate he has no appetite for resuming a team principal position similar to his former role, with such responsibilities reportedly no longer holding appeal.
Instead, his ambitions are understood to be focused on securing a more substantial ownership stake.
Beyond F1, Horner has reportedly received approaches from Formula E and is scheduled to meet with America's Cup organisers, though a return to the pinnacle of motorsport is said to remain his primary objective.