|© AP Photo/Hassan Ammar
Ferrari will supply the engines for the Haas Formula One team when the American outfit makes its debut in 2016.
Ferrari announced the deal Wednesday saying "the multi-year agreement is for the supply of the entire power unit."
Ferrari team principal Marco Mattiacci says "we're delighted to announce this important strategic partnership with Haas F1 Team and to welcome an American player as a new entrant in Formula One."
NASCAR team owner Gene Haas is putting together a team to enter F1 in 2016 and had already signed a commercial deal with Ferrari.
Mattiacci says "this is the natural next step of our growing relationship. ... We believe this new partnership has the potential to evolve beyond the traditional role of supplying our power unit and all related technical services."