A newly formed depression in the Caribbean could enter the Gulf of Mexico as Tropical Sara next week, potentially reducing the chances it could pose a threat to Florida later in the week.

Tropical Storm Sara formed this afternoon and threatens to bring "life-threatening and potentially catastrophic flash flooding and mudslides" to Honduras throughout the weekend, according to the latest update from the National Hurricane Center. A turn toward Florida is still possible, forecasters said.

The National Hurricane Center began advisories Wednesday on a system it forecasts to become the season’s next tropical depression or storm. Long-range forecast models predict it will intensify into a hurricane and threaten Florida by the middle of next week.