BMW M1 spotted?

Last week we saw photos of the BMW M1 concept, a tribute to mark the 30th Anniversary of BMW’s only mid-engined sports car, but it may be coming back! The photo below is currently doing the rounds online with the photographer claiming its the M1.
BMW M1 spotted
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It is still uncertain whether or not this is a real photo or a photoshopped rendering, either way, we love it.

The photographer says the photo was taken in a hangar in Spain. Apparently it's based on the same platform as the all-new M3 but to keep with tradition, it will be mid-engined.

If this is indeed the new M1, should BMW build it?

Source: FreshTarmac