Argentine race driver José María López is on the verge of securing a seat at the new USF1 team for 2010, after signing a conditional agreement with the outfit. Lopez is currently racing in the all-Argentine TC 2000 touring car series, and has added this year's title to the one he won last year, but has not raced in a single-seater racing series since 2006.

Lopez has to secure $11m in sponsorship before activating his race contract, and local reports from Argentina say he has already secured $8.8m, leaving just $2.2m left to be found. Lopez visited USF1 headquarters in North Carolina last week, and said a verbal agreement had been reached, with a firm contract set to be confirmed next week.

“The visit has been highly positive, we just need to complete some economic supports, that are already committed,” said Lopez.

“Until now, all the contacts had been by telephone, but given the advanced negotiations, we went there to visit the team headquarters and talk with Peter Windsor and Ken Anderson. We have a verbal agreement that will be completed next week.”

Lopez was a Renault test driver in 2006, having been part of Renault's driver development programme. In 2005 and 2006 he raced in GP2, picking up a victory early in 2005, but has since retreated to touring cars. If he can secure the USF1 seat, Lopez will become the first Argentine F1 driver since Gaston Mazzacane drove for Prost in 2001.