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Mick Schumaher, the son of racing legend Michael Schumacher, is set to join Formula 1 next season. Schumacher signed a multi-year contract with the American racing team Haas, the team announced on Wednesday. Mick Schumacher is currently competing in Formula 2 and leads the standings with just one race remaining in the circuit.

The younger Schumacher is slated to make his Formula 1 debut exactly 30 years after his father's debut at the 1991 Belgian Grand Prix. He has three Formula 2 wins to his credit in 44 starts and won the Formula 3 European Championship in 2018.

"The prospect of being on the Formula 1 grid next year makes me incredibly happy and I'm simply speechless," Schumacher said in a press release. "I would like to thank Haas F1 Team, Scuderia Ferrari and the Ferrari Driver Academy for placing their trust in me. I also want to acknowledge and extend my love to my parents – I know that I owe them everything. I have always believed that I would realize my dream of Formula 1."

Michael Schumacher put together a stellar career in which he won seven World Championships with the Benetton and Ferrari racing teams. He had the most wins (91) in Formula 1 history before Lewis Hamilton broke that record this year. Michael Schumacher has been out of the public eye since he suffered a serious head injury while skiing in the French Alps in 2013. After the accident, he was put into a medically-induced coma for a year.