The Caterham F1 Team have confirmed that Vitaly Petrov will race for them in 2012 after an eleventh hour deal was agreed, replacing Italian driver Jarno Trulli at the Malaysian team and likely ending Trulli's Formula One career.
Petrov has been linked with the team for a number of weeks, despite Trulli ostensibly having a race contract for 2012.
Last week, it was reported that issues with Petrov's sponsors were holding up the deal, but those issues now appear to have been resolved.
The team confirmed on Friday that Petrov, who drove for Renault in 2010 and 2011, will attend a seat-fitting at their Hingham base today.
The Russian will then make his debut for the team at next week's Barcelona pre-season test.
Speaking about the deal, Petrov grinned that it was an "exciting day" to have signed with the team, saying that he was "honoured" to join them.
"This is a very exciting day for me," he beamed, "I would like to thank [Caterham] for giving me the chance to join a team that made its F1 debut at the same time as me, and has grown from one of the new teams to a serious force for future honours.
"The passion and spirit that Tony and the whole team have to keep moving forwards is infectious, and I am honoured to be able to join them and play my part in helping the team mount a serious challenge to the teams ahead in 2012 and for many seasons to come."
He added: "I have been training hard all winter and am ready to get back into the cockpit and go to work.
"From what I have seen already, our new car is another good step forward from 2011 and now I cannot wait to see how it feels when we get to Barcelona.
"I would also like to take this chance to thank all my fans and partners for their support and their patience."
Team boss Tony Fernandes added: "We are all delighted to welcome Vitaly into our team and are very excited about the role he will play in helping us take the next steps forward in 2012 and for many years to come.
"When we first met it was immediately clear that Vitaly understands and shares our vision for how we want our team to grow.
"As the first Russian to race in F1 he carries the hopes of a huge nation with ease and his talents, experience with one of our current competitors and insights on and off track will play a huge role in our development as we fight to join the established teams ahead."
The decision to bring Petrov in to the team will likely end the F1 career of 37-year old Trulli, who has raced for the team since they joined F1 in 2010.
Petrov will race alongside Heikki Kovalainen in 2012.
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