Ferrari to power new Haas Formula One team

Haas F1, being set up by NASCAR team owner Gene Haas, had established ties with Ferrari already and announced in July that it was sponsoring the sport's most glamorous and successful team until the end of the 2015 season.

"A few months ago we joined forces with Gene Haas on a commercial level and this is the natural next step of our growing relationship," said Ferrari team principal Marco Mattiacci.

"While our objective is to reinforce our power unit development program for all our customer teams, we believe this new partnership has the potential to evolve beyond the traditional role of supplying our power unit and all related technical services," he added.

"The United States continues to be one of the most important markets for Ferrari and it offers many interesting opportunities."

Ferrari currently supplies three teams with power units - its own, Sauber and Marussia.

Haas, whose entry has been accepted by the governing FIA, will be the first American-based team in F1 since 1986. Gene Haas is co-owner of the Stewart-Haas team that won the 2011 NASCAR Sprint Cup Series championship.

(Reporting by Alan Baldwin, editing by Pritha Sarkar)