Ferrari will supply the new Haas F1 Team with engines having put pen to paper on a multi-year contract.

The squad led by the American NASCAR co-team owner Gene Haas has held lengthy talks with Ferrari since acquiring a spot on the 2016 Formula 1 grid in April.

Discussions initially led to a commercial tie up with Haas’ business Haas Automation, and now on the eve of this weekend’s Italian Grand Prix, Ferrari has committed to supplying engines for his F1 operation.

Ferrari currently supply customer engines to Sauber and Marussia F1 teams.

“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 Ferrari boss Marco 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.”

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

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

It is understood Haas is keen to extend his relationship with Ferrari beyond an engine deal to assist the progression of his fledgling F1 team, which was confirmed by Mattiacci.

“While our objective is to reinforce our power unit development program 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,” added 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 One grid.”