Formula One will have 12 teams this season, instead of a planned 13, after a late replacement for the USF1 entry was ruled out by the governing body on Wednesday.
The founders of a proposed all-American Formula One team unveiled plans to enter the sport in 2010 on Tuesday while remaining sketchy about where the funding would come from. While the US has a rich past in Formula One, with world champions in Phil Hill and Mario Andretti, the sport has abandoned the country in recent years.
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