Former Top Gear presenters Jeremy Clarkson (inset), Richard Hammond and James May have reportedly met ITV bosses to discuss signing with the channel.
Clarkson's contract was not renewed by the BBC in February following his attack on producer Oisin Tymon and speculation has been rife as to which channel the presenting trio will move to.
The Daily Mirror has reported that Clarkson, Hammond and May visited the home of ITV director Peter Fincham in west London on Wednesday.
They were said to be joined by Top Gear's former executive producer Andy Wilman and ITV's entertainment chief Elaine Bedell, a former colleague of Clarkson's.
Bookmakers have slashed the odds of the former Top Gear team presenting a new motoring show on ITV by the end of 2016 to 2/1.
An ITV spokeswoman said: "We haven't commented, and aren't planning to comment, on the continual Top Gear speculation which is swirling around the television industry."
Clarkson, Hammond, May and Wilman are also believed to have been in negotiation with a streaming service, such as Amazon or Netflix.
BBC plans to relaunch Top Gear with new presenters.