BMW is currently analyzing the prospects of bringing back the legendary M1 moniker for a potential flagship supercar.

We've been hearing about a new M1 ever since the 2008 Homage concept but without any confirmed facts. We still don't have them but at least M division chief Friedrich Nitschke has shed some light about the possibility of bringing back the M1. He considers it's the right step to take now the i3 and i8 have been introduced and the M division is up for the task but it needs the green light of approval from the BMW board.

Even though the 2014 i8 was developed without the involvement of the M team, an M1 revival could feature technology derived from the plug-in hybrid sportscar, with Nitschke saying "[it's] a question of capacity not a question of know-how."

We remind you approximately a year ago there was a rumor about a spiritual successor of the M1 called M8 set for a 2016 release as a celebration for BMW's 100th anniversary. The report mentioned a power output between 600 - 650 bhp (447 - 484 kW) coming from an uprated V8 4.4-liter TwinPower Turbo engine wrapped around in a retro-flavored body weighing 1,252 kg (2,760 lbs).

Note: 2008 BMW M1 Homage concept pictured.

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