The idea of a next-generation BMW M1 designed in partnership with McLaren is the kind of project enthusiast dreams are made of.

And for now, it will remain a dream.

Australia's Motoring is reporting that when asked about the possibility of such a venture, BMW M CEO Frank van Meel stated, “It would make no sense for us to put a car above the i8," and insisted there has been no communication between BMW and McLaren.

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Previous rumblings suggested we could have seen a prototype for a mid-engine, V-8 supercar from the two companies as soon as the 2017 Frankfurt Auto Show.

Any hope for a BMW competitor to the likes of the Audi R8 or Mercedes-AMG GT may actually come from a joint venture with Toyota, as the two companies signed a memorandum of understanding in 2011. The agreement has already led to a joint sports car program, expected to spawn new versions of the BMW Z4 and Toyota Supra, and we hear that execs are looking at a second performance-oriented model, this one being more of a supercar than sports car.

But if BMW has any plans for the platform, it hasn't revealed them.

All told, the persistent whispers about an M1 successor seem to be fueled by nothing more substantial than the BMW faithful's desire for one. 

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