The subject of the rumours is the 2014 Sochi race, which many observers think is unlikely to ever happen. The IOC have voiced concerns about the practicality of striking down the Olympics infrastructure while setting up for Formula One, and suggested that the grand prix might be best delayed for a year, but that's not why we're wondering about the viability of the race.
No, instead the Russian Grand Prix is being fought over by a number of politicians all of whom think they can get the best possible PR out of their electorate by moving the race somewhere closer to their own constituency.
Recently re-elected Russian president Vladimir Putin, a native of St Petersburg, has long been keen on the idea of a grand prix in his home town. Previous president and current prime minister Dmitry Medvedev is also a St Petersburg native, and shares Putin's desire to promote the city. But there's no suitable circuit, and no plans for a street race. St Petersburg just isn't an option at present.
Moscow and St Petersburg have an ongoing rivalry of the sort typically found between major cities, but despite that rivalry it still better suits the powers that be in the Kremlin to hold a race in or near the major city - the capital city - of Moscow than it does out in the sticks of Sochi.
Sochi is already getting a boost from the Winter Olympics; the local residents form a very small voting block and there is no real need to additionally pander to their desires from a political standpoint for a few years yet to come.
And - if properly managed - a race in Moscow should generate more income and better PR for Russia than a grand prix on the Black Sea. The F1 travelling circus likes its luxuries, and parties hard (and spends accordingly) when afforded the opportunity of racing in a metropolis.
Compare the coverage of the Korean Grand Prix, where we're all stuck in a quiet seaside town with nothing to do, with Singapore, where we love the bright lights and fast pace. Which race is the more popular of the two? Which one sees sponsors and VIP guests actually turning up?
So for a while now we've been wondering whether Sochi was just a useful smokescreen for an inevitable race in Moscow, and when we were going to be informed of this likely change of venue.
Further fuel was added to the fire before the British Grand Prix, when FIA race director Charlie Whiting inspected the new Moscow Raceway, and said that it would be a suitable venue for Formula One, although it lacked the appropriate FIA grading. All the ducks are slowly lining up...
But while the Moscow Raceway might be in the right place at the right time, it's already come in for heavy criticism from drivers after only a single racing weekend. The venue played host to a round of the WSR championship over the weekend, and both Alain Prost and Vitaly Petrov said the Hermann Tilke-designed track left a lot to be desired.
"The raceway could have been done a little bit more interesting," said Petrov after completing some exhibition laps of the circuit. "It doesn’t have enough zing. It lacks high-speed corners, some sections of the track are a bit slow, and it doesn’t bring a lot of pleasure to go through [corners] in second or third gear."
Prost was similarly critical after his first laps of the Russian track: "The infield part is very similar and very difficult to overtake. I was a bit surprised that at the end of the straight, it was not also that easy to overtake. There are some places where it’s quite nice, but overtaking is not easy."
Not great initial feedback, but when has a lack of overtaking opportunities ever stopped Formula One from making a Tlikedrome its temporary home?
Other pointers to a possible race in Moscow, such as this morning's widely-quoted Lewis Hamilton comments about his desire for a night race in the Russian capital, should be taken with the usual pinch of PR-friendly salt, but might not be as far-fetched as they first appear.