Haas F1 Team seals multi-year Ferrari engine deal from 2016

The Italian firm has long been considered favourite for the Haas deal. A commercial tie-up between Ferrari and the Haas Automation business was announced in July, and Haas was hosted by Ferrari for most of his visit to the F1 paddock at the Canadian Grand Prix.

The multi-year deal was confirmed by Ferrari chief Marco Mattiacci on the eve of the company's home race in Italy this weekend.

"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 1," said Mattiacci.

"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."

Haas added: "There is no team in Formula 1 more accomplished than Scuderia Ferrari, and no team with more history.

"They've been a part of Formula 1 from the beginning, and now they'll be a part of Haas F1 Team's beginning."

The Haas team has made clear that it wants to develop a more extensive technical partnership than a straightforward engine supply in order to move up the F1 grid as soon as possible, taking advantage of rules tweaks that reduce the amount of components a team must construct itself.

Mattiacci left the door open to the Ferrari/Haas relationship being extended beyond the engine supply deal announced on Wednesday.

"While our objective is to reinforce our power unit development programme 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," said Mattiacci.

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

"We look forward to supporting Haas F1 Team in its efforts to become a competitive player on the Formula 1 grid."