Gene Haas says the target for his new team in the first five years of entering F1 will be "just surviving".

Following confirmation from the FIA, Haas will join the grid at the start of the 2016 season, becoming the first new team to enter since HRT, Marussia (then Virgin) and Caterham (then Lotus) joined in 2010. With HRT having disappeared at the end of 2012 and Caterham's future uncertain, Haas said he was not setting targets in terms of results.

"I think for the first five years is just surviving, don't have any expectations of grandeur that we are going to go out there and win championships," Haas told CNN. "If we even win a race in five years, I think that would be a tremendous success."

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And Haas admitted that it almost doesn't matter how successful his team is, knowing that the exposure of being in F1 will be sufficient in promoting his machine tool building brand.

"Just the association of being with Formula One basically takes our brand from nobody to the stratosphere and if we struggle at it, maybe we will get more notoriety about it, but sooner or later we will march up. I'm not expecting to beat anybody, just maybe the guys at the back."

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"Just maybe the guys at the back" - the way things are progressing, by the time his team hits the tracks (assuming they actually make it that far), those "at the back" are likely to be the teams presently well into today's midfield, all the slower teams having already folded/departed.

Maybe he's coming to realise that just removing wings (fenders) and the roof doesn't turn a Nasbore car into an F1 car.