The new American Formula One squad granted an entry for next season will delay its debut by a year, their owner has confirmed.
Title-winning NASCAR team boss Gene Haas had planned to join the F1 grid in 2015 with a team run from his base in Kannapolis, North Carolina, but increasing time constraints have forced him to push that date back a further 12 months.
"The plan is absolutely to launch in 2016 and we are fully committed to that," Haas told US publication Forbes.
"I don't think there is any doubt about that whatsoever. I think we will be a better team because we will have more time to plan and we will be able to do a lot more engineering in Kannapolis.
"We have been working on a building there since November of last year as part of the expansion of the NASCAR team. In about a month we will have the NASCAR site open then about a month later we will have the Formula One site operational so we can go in there."
Haas (pictured above) admitted that the original goal had been to enter Formula One next season, and says he is disappointed to have been forced to delay those plans.
"From a personal standpoint, I really would have liked to go racing in 2015. It was hard to sit there and say no. Trust me, I really wanted to go.
"The first year is always going to be tough but I think that by waiting a year we will probably only have six months of it being really tough because we will be better prepared."
Haas added that his plans hit a significant snag when tax issues prevented the team from establishing a base in Italy.
"We are still looking at having a shop in Europe. England maybe would be the place to go because that's where most of the Formula One teams are. We can't do anything in Italy because of the tax presence there but you obviously have Formula One itself in the south of England so that would be a potential site."
Haas also confirmed that he will attend this week's Canadian Grand Prix where he says he is 'going to be asking a lot of questions'.
The squad is likely to recruit veteran chassis constructors Dallara to build their first car, with Ferrari believed to be their favoured engine supplier. Former Jaguar and Red Bull man Gunther Steiner has been appointed team principal.