"Now, the really hard work begins. It's a challenge we embrace as we work to put cars on the grid," Haas said.
Haas' NASCAR co-owner Tony Stewart was happy for his partner and excited for the potential F-1 shop on the program's campus.
"It's a pretty cool deal," said Stewart.
Stewart said he would not have any involvement in the venture.
Haas' team would be America's first F1 entrant since Penske Racing competed from a base in England from 1974 to 1978. And it would be the first U.S.-based F1 team since Mario Andretti raced for Parnelli Jones Racing from 1974-76. The last American team competing in F1 was run by Carl Haas (no relation to Gene) and Teddy Mayer in 1985-86.
At the IndyCar race in Long Beach, Calif., drivers wondered if a U.S.-based team would actually come to fruition.
"There's not a great track record so far, and those are the data points we have to go off of," said James Hinchcliffe. But his teammate believed Haas might be able to pull it off.
"With Gene Haas buying the team, I'd say that's the likeliest chance of it finally happening," said Ryan Hunter-Reay.
Asked if there'd be any interest in the paddock for a shot to drive for Haas in Formula One, the normally reserved Carlos Munoz immediately perked up.
"I would," the Colombian said. "I'd love to do it."
Haas founded his NASCAR team based in Kannapolis, N.C., in 2002. Seven years later, he brought Stewart aboard in a co-owner role to bring legitimacy to the team and help get the cars to Victory Lane. Stewart has delivered.
Haas also operates the Windshear, one of the world's most sophisticated wind tunnels for the testing of car aerodynamics, which would aid any new F1 entry. He said Haas Automation, one of the largest machine tool builders in the world, currently does $1 billion in annual sales, and he believes entering Formula One could help him double that number.
"It's not that we're trying to individually sell machines. We're trying to make people aware of Haas Automation as a company," he said.
He added: "We're just trying to bring our awareness up and Formula One is even more important because half our sales are outside the country. So we think Formula One would be a really great way of bringing us awareness and increasing our sales."
His team would be based in North Carolina, next to the existing NASCAR shop.
"We want to be an American team. We think that has the most sizzle to it," Haas said in January.