Palmer ready for "new chapter" outside F1 if Williams bid fails

Palmer, who will lose his Renault seat to Carlos Sainz next year, has made it clear that he's not interested in pursuing a third driver role at another F1 team, and would rather start afresh and race in another category.

"If I'm out of F1 at the end of the year, it will obviously be a new chapter," Palmer said on Thursday in Malaysia.

"I'd want to put everything into it, and have something for the longer term, really.

"I think F1 is great and I would like to stay in, but unless you're in a secure seat with one of the top drives, then year by year, there's a lot of pressure.

"[I'd be looking at] somewhere where I could enjoy my racing, and focus on the longer term."

The Briton has not given up hope of staying in grand prix racing, however, although Williams - the team widely seen as his only realistic chance of remaining on the grid - is understood to be favouring other candidates.

"I think there's a chance," Palmer said in regards to Williams. "I don't think they've confirmed their plans.

"I don't know, to be honest. I'm just focussed on making the best of every race, and every race is a chance to show what I'm capable of.

"As far as I can see, there's one seat. There's a few drivers going for it. Whatever you want to make of that really.

"There's a chance, but I'm not going to put anything on it really. It's me doing the best I can and seeing what unfolds.

On whether he had other options to stay in F1 if the Williams move doesn't happen, Palmer said: "I'm not interested in a third driver role. There's different options out there. Something that's going to be very enjoyable."

Open to IndyCar switch

Palmer said a move to the American single-seater series IndyCar is among the possibilities he is considering.

"I'm open, it's an option, but outside of F1 there are a lot of places to go and race," he said.

"Indy is one of them, but I'm not saying it's a preferred option or not. It's obviously very different, and requires a lot of thinking."

He added: "At the moment there's no firm plans. Different options, and some that are what I'd rather do."

Despite saying that he would consider a move to the World Endurance Championship as well, Palmer appeared to downplay his interest in making the switch to prototypes.

"I've always said that I prefer wheel-to-wheel racing. I know LMP1 is wheel-to-wheel, but endurance racing is very different," he said.

"Again it's one of the options out there. You have to see what becomes available. But I'd prefer to be racing wheel-to-wheel for position."