The report initially published by German online media auto motor und sport, NASCAR team owner Gene Haas has applied to own a F1 team that would begin challenging in.
Three teams have applied and a decision on whether any get approved could come as early as next month, former F1 team boss Colin Kolles, and Stefan GP another two parties.
“We have responded to the FIA’s ‘call for expression of interest’ regarding a Formula One entry on behalf of Haas Racing Development,” Haas said in a statement released by his team.
“We respect the FIA’s evaluation process and will share more details in the coming weeks.”
Haas owns CNC machine manufacturer Haas Automation and the Windshear wind tunnel in North Carolina. His Cup team currently fields cars for Stewart, Danica Patrick, Kevin Harvick and Busch. The Pacific Coast Business Times estimates his net worth at $740 million in 2011.
According to the report, the F1 cars initially would be built by Dallara with Ferrari doing transmissions.