Peter Windsor has been heard stating that USF1 will announce its entrance into Formula One this month, possibly around the 24th on Speed TV. As quoted from planet-f1.com:

"Ken Anderson and I have been looking at the possibility of designing and building an F1 car in the USA for the past four years," Windsor told SpeedTV.

"So I guess the real surprise is that we were able to keep it quiet for so long.

"The news broke this week but the real announcement is going to be live on SPEED, potentially on February 24."

A check of the USF1 web site, usf1.com, shows that a countdown timer has recently been added.

If you're curious about the photo selection, apparently Ken Anderson has stated that if Danica Patrick is interested in driving in F1, they are interested in giving her a testing opportunity. If nothing else, it could bring more US money and interest to the sport.

However, it remains to be seen if this entry into F1, and the anticipated increased American audience, will bring a race back to the second largest automobile market on the planet.

Lets keep our fingers crossed, at least for an additional team on the grid if nothing else.