Haas is the most likely to take the 12th place on the Formula One, according to F1 supremo Bernie Ecclestone.
At present the FIA are considering several candidates for a slot they are opening up on the 2015 grid.
Gene Haas, half of the successful NASCAR partnership of Stewart-Haas, has applied for the position with Ecclestone revealing his team is the favourite.
"I think Haas will be accepted," he told The Independent newspaper.
"They have got the money but it's a question of whether they are going to spend it."
Ecclestone, however, has warned Haas that it costs serious money to start a Formula One team.
"A billion would last a new team owner four year. I've spoken to Haas but I don't know what they are going to do. It's America, so I don't know."