The Haas Formula One (F1) team announced that they have purchased the Marussia factory in Banbury and will use it as its European headquarters.

The American F1 team said they will use the Banbury facility to prepare cars for the European fly-by races. Subsequently, the team still plans to develop its technology in its own facility in Charlotte.

However, Haas has denied reports to purchase the Marussia team outright. As of this moment, the American team is focused into making their F1 debut in 2016. In a press conference, team owner Gene Haas expressed that F1 will be a learning process. He also told reporters that the Haas F1 team doesn't promise to have a great debut season but, it will be more competitive than people think.