Welcome to F1Minute, it’s the 24th February 2009.

The USF1 team has officially been announced now, with founders Peter Windsor and Ken Anderson choosing Speed TV as their platform. The team say plans are on course for entry to F1 in 2010, and both Bernie and Max are on side. No specific details were released, but Windsor said: "We are two guys who can say we want to do an F1 team because we have the capital to do it, and to some extent the recession has helped us a little bit." It certainly makes a nice change to hear that. Windsor also admitted that he had told Bernie about the project back in Brazil 2006, to which Bernie replied: “Great, get it done.” The big aim of the team is to promote American technology, drivers and the “competitive spirit.”

And finally, the BBC have revealed detailed plans for their UK F1 coverage, including plenty of TV, Red Button, online and mobile features. The most important thing, though, seems to be the return of The Chain as the theme tune.

That’s it for today, please join me again tomorrow for another F1Minute.