US F1 have applied to world motorsport's governing body, the FIA, to defer their entry into the Formula 1 world championship for 12 months.
The team, based in Charlotte, North Carolina, is among four newcomers entered for the 2010 season.
Team principal Ken Anderson says if the FIA say no to the deferral, they're done.... if they say yes they can put it back in gear and go.
He added that a deferral would allow the team to rebuild and, depending on the testing regulations, get track time in preparation for an entry in 2011.
Lotus and Virgin, who have already been testing, and Hispania - formerly known as Campos - are the other new teams for 2010 and all hope to be on the grid for the opening race in Bahrain next week.
If US F1 pull out, it could create an opening for the newly-established Serbian-backed Stefan Grand Prix team, which has been lobbying to take their place on the grid.