Successful team principal Ross Brawn has returned to Formula 1 in a consultancy role on behalf of the sport’s new owners Liberty Media.

The 61-year-old has rejoined the F1 scene after announcing his retirement from the sport in 2014 following a four-year spell at the Mercedes squad.

Brawn, who helped mastermind Michael Schumacher’s seven world championships and guided his eponymous Brawn GP outfit to glory in 2009, admitted earlier this week that he is keen to return to F1, but ruled out working for a team.

Reports from Europe had suggested Brawn will take over as the new head of F1, although it appears he is poised to assume a sporting role, which will see him offer input in shaping the sport’s future regulations.

It has been reported the position would see Brawn liaise with teams and championship regulator, the FIA.

In a BBC interview, the former Ferrari technical director confirmed talks with Liberty Media have begun, which has led to a consultancy role.

“Liberty have not got far enough down the road to make any commitments yet,” Brawn told BBC Sport.

“I’m doing a little consulting to help them better understand F1, but that’s all.”

The full details of Brawn’s role are likely to be revealed once Liberty Media’s $US8billion ($AUD10.4 billion) full takeover of F1 is completed in early 2017.