Lopez takes his money to Campos

Earlier this week, reports in Lopez's native Argentina claimed that USF1's attempted venture into Formula One had come to an end, culminating in team boss Peter Windsor informing Lopez that his services are no longer required.

Finances have been blamed for USF1's aborted start, with the team reputedly unable to raise necessary funds needed to compete despite the millions Lopez would bring.

Bad news for USF1 but, reportedly, good news for fellow financial strugglers Campos Meta.

According to AutoWeek, the team has jumped at the chance of signing Lopez, who along with his father and advisor Felipe McGough met with Bernie Ecclestone on Thursday.

The F1 supremo played a huge role in hashing out a deal for the Argentine, who could be confirmed as a Campos driver as early as Friday.

"USF1 hadn't finished the car and we had promised everyone that we would be in the first race in Bahrain," a source close to Lopez told AutoWeek.

"That's why Felipe decided to reorganize everything, because we can't miss Bahrain. The only thing we want is that 'Pechito' drives in F1. Everything else is not important for us."