American motorsport tycoon Gene Haas has claimed that the top priority for his new Formula 1 team is "just surviving".

The NASCAR Sprint Cup Series owner announced in April that he would be venturing into the world of F1, with his team expected to make their debut in the 2016 season.

However, the 61-year-old has made it clear that he does not expect his setup to be challenging for titles anytime soon.

"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," he told CNN. "If we even win a race in five years, I think that would be a tremendous success.

"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."

The last time that Formula 1 saw a USA-based team take part in a competitive race was back in 1986.