The entry of a 12th team into Formula One for next season is still under consideration by motor sport's world governing body the FIA.

Early in December the FIA announced it was seeking expressions of interest from potential new entrants.

Gene Haas, one half of the successful Stewart-Haas Racing team that competes in the Nascar series, has long been the favourite to be given the slot.

F1 supremo Bernie Ecclestone certainly believes that will be the case as he said: "I think Haas will be accepted.

"They have got the money, but it's a question of whether they are going to spend it."

The FIA was due to make a decision by the end of February, but is yet to make any official announcement.

The matter remains under consideration, although it is expected it will soon be resolved.

Haas certainly has the credentials and capability to get a new team up and running, notably as he owns factory facilities in Brussels which would likely be key for a European base.

He also runs the full-scale Windshear rolling-road wind tunnel in North Carolina that has previously been used by a number of Formula One teams.

The United States last tried to get a team on the grid in 2010 at a time when F1 was seeking significant expansion, only for US F1's plans to fail to come to fruition.

Eclcestone, however, has warned Haas the start-up costs are significant, adding: "A billion would last a new team owner four years.

"I've spoken to Haas, but I don't know what they are going to do."