NASCAR team owner Gene Haas has admitted that he is "extremely pleased" to have been granted a licence by the FIA to enter a team into Formula 1 next year.
The American expressed an interest in entering the sport earlier this year, and had his application approved last week.
"Obviously, we're extremely pleased to have been granted a Formula 1 licence by the FIA," Autosport.com quotes the 61-year-old as saying.
"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."
F1 president Bernie Ecclestone confirmed that another team, Forza Rossa, may also be added to the grid in 2015.