(Renault Sport F1)
According to reports emerging from the F1 paddock in Bahrain on Thursday, American NASCAR team owner Gene Haas looks poised to gain entry into the sport from next season following what has been described as a very positive meeting with FIA president Jean Todt.
Haas is believed to be in advanced talks with Ferrari about using a supply of 1.6 litre V6 power units next season and the team would also use a chassis from Italian manufacturer Dallara.
Haas already owns a wind-tunnel at his HQ in the US and his company also has a European base and it is believed that this would house the Formula One team. If Haas is given the green light it is unlikely that he will have any problems when it comes to attracting potential investors and sponsors and the US is such a big market.
If the team are successful in their bid to gain a place on the F1 grid for next season it would be great for the sport and indeed for Ferrari as the United States is the Italian company's largest market.
It is believed that an announcement about the new team will be made very shortly and if successful the team are likely to field at least one American driver.
©Ben Johnston 2014