After several reports about Grosjean's rumored talks with newcomer Haas F1 team, the racing team officially confirmed that the 29-year old French racing driver will compete next year under their banner.

Regarded by Haas F1 team as a team leader and a potential world champion, Grosjean himself has competed 78 F1 races and has secured 10 podium finishes, with the most recent during the Belgian Grand Prix where he finished third place.

“We wanted an experienced driver capable of developing our car and our race team into one that can score points and better itself each race and each season. We found him in Romain Grosjean,” said Gene Haas, Founder and Chairman of Haas F1 Team.

Haas also added that in the world of motorsports, one of the most important components is having a good driver.

Gene Haas, team Chairman and Founder

“Romain has strong credentials and he will be an important asset to Haas F1 Team,” added Haas.

On the other hand, Grosjean is excited to be a part of a new team that according to him, has a different approach to the revered motorsport.

“What Gene Haas and everyone at Haas F1 Team is building is impressive, and I’m very proud to be a part of it. Formula One is incredibly competitive and the only way to succeed is by finding new ways of doing things. I believe in their approach and they believe in me. While I am committed to giving my absolute best to my current team in these last five races, I am very excited for what the future holds at Haas F1 Team,” said Grosjean.

Grosjean will first get to drive for the new team during the preseason test which will take place on March 1-4, 2016 at the Circuit de Catalunya in Barcelona, Spain. There will also be a second test run in Barcelona and will take place from March 15 – 18. The 2016 season opener on the other hand will kick off in Australia on April 3 in Melbourne.

In review, the Haas F1 Team will officially join the ranks of Formula One next year and is the first American-led F1 team in 30 years. The team's engines will be supplied by Ferrari while the old Marussia factory in Banbury will become their base of operations in Europe. Development of the cars will still take place at their North Carolina facility as the team opted to use the Banbury complex to prep their cars for the European fly-by races.