Gosh, that was quick. It was only this morning that we broke the news that an American team was to join F1's grid next season, however mere hours later the full scoop landed in our inbox courtesy of our good friends at Autoblog.
We already know that American motorsport identities Peter Windsor and Ken Anderson will head the USF1 team, however we can now give you a few more tidbits of info about why they decided America needed a Formula One presence.
Along with the usual goal of "winning every damn race", the USF1 team was created to promote America as a brand through the thoroughly global phenomenon that is Formula One. US technology will be spruiked by the team, and the cars, drivers and support crew will be 100 percent all-American.
Headquartered in North Carolina and with a European testing facility in Spain, the USF1 team will also be embarking on a media assault, enlisting documentarians, TV producers and foreign as well as US distribution companies to spread the USF1 gospel and chart the team's journey.
Of course, USF1 will also be a money-making affair, and with an estimated three billion global F1 viewers (most of which belong to the prime 25-44 year-old demographic), there's many a potential dollar to be made.
However Formula One is still a risky business (just ask our own Paul Stoddart), and one that doesn't always break a profit. While USF1 has reportedly been successful in raising the funds to establish the team, we'll have to wait until 2010 to see whether they can earn enough scratch to sustain themselves. We'll be keeping a keen eye on these fellas.