NASCAR team owner Gene Haas has secured entry into Formula 1 for the 2015 season.
In a statement released on Friday, Haas confirmed he'd been informed by the FIA that his application to join the F1 grid next year had been successful.
He was quick to point out, however, that a lot of hard work still lies ahead.
"Obviously, we're extremely pleased to have been granted a Formula 1 licence by the FIA," said Haas.
"It's an exciting time for me, Haas Automation and anyone who wanted to see an American team return to Formula 1.
"Now, the really hard work begins. It's a challenge we embrace as we work to put cars on the grid.
"I want to thank the FIA for this opportunity and the diligence everyone put forth to see our licence application come to fruition."
Haas hopes to release further details about his new F1 team next week.
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