Jan Magnussen has singed a four year contract with Formula One new-commer Stewart Grand Prix. The 23 year old has replaced Emmerson Fittipaldi a few races in the Indy Car series and has driven ITC this year.

Team-boos Jackie Stewart said: "Jan is the best Formula Three driver I have ever seen including Ayrton Senna."

Magnussen commented: " This is a dream come true. I am honoured to get this challenge of a lifetime."

The Dutch racetrack Zandvoort, known for their annual Marlboro Masters Formula Three race, which has seen many winners who became Formula One drivers, will not stage a Formula One Grand Prix in the future. In order to have a Grand Prix it needed to expand greatly, but this was not granted by the authorities.

The deal between the TWR F1 team and Yamaha is now completely official. Yamaha has signed a one year deal with the British team, who has signed Damon Hill for next year.

Yamaha sporting director Herbie Blash said: "This is a new era for Yamaha...we are looking forward to an exciting future together."