The President of Argentina, Cristina Fernandez de Kirchner officially announced the signing of Argentine driver Jose Maria Lopez to the USF1 team, in Buenos Aires on Monday. The USF1 Team's web site confirmed the news shortly afterwards from their base in Charlotte, N.C.

With previous outings in Formula 3000 and GP2 as well as having a small amount F1 testing experience under his belt, the 26 year old becomes the first driver announced for the team. Money to fund the deal is said to come in part from Argentine government backing and other local sponsorship.

Speaking of the deal, Team Executive Vice President, Peter Windsor said:

"We've been following his career since he dominated the Renault V6 Championship in 2003 and we're thrilled to have him on board as we return America to Formula One. Lopez is a consummate professional and born leader."

Lopez is well aware of the challenges he faces and but eventually hopes to see the team "competing for wins and championships".

"I have been working towards this day for much of my life and I can't thank Peter and Ken enough for this opportunity."

The final name to weigh in on the news was Team Principal, President and CEO Ken Anderson, who added that the team need "the right guys in the seats" in order to experience a successful debut campaign.