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FIA seeking 12th team for 2015

NEWS STORY
11/12/2013

As the future of a number of the current teams remains in doubt the FIA is seeking a twelfth team to enter F1 in time for the 2015 season.

A statement on the FIA website reads:

"The FIA has decided to open a new selection process to identify a candidate team to participate at a competitive level in the FIA Formula One World Championship from the start of the 2015 or the 2016 season up to 2020 inclusive. The overall long-term interests of the Championship will determine which candidates are selected.

The precise terms of this selection process, together with the applicable selection criteria, deadlines, legal requirements and other conditions, will be communicated to candidates who have registered a formal expression of interest with the FIA's Secretariat before 5pm CET Friday 3 January 2014."

Along with an administration fee of $5,000, which must be received by 3 January 2014, would-be teams must include:

A cover letter introducing the candidacy;

The candidate's full contact details;

The candidate entity's certificate of incorporation, details of its administrative headquarters, the ate of founding/registration, its company number, a copy of its statutes/memorandum and articles of association or equivalent as well as details regarding its management generally;

The identity of all shareholders and the ultimate beneficial owner of all shares;

A curriculum vitae for each director and officer of the company; and

Information on the candidate's relevant experience and capabilities, including technical experience, racing experience, facilities, equipment and engineering resources.

Additionally, all applicants will be expected to undergo thorough due diligence. By way of indication only, the applicable selection criteria will include:

The technical ability and resources of the team;

The ability of the team to raise and maintain sufficient funding to allow participation in the Championship at a competitive level;

The team's experience and human resources;

The FIA's assessment of the value that the candidate may bring to the Championship as a whole.

The invitation comes around twelve months after the demise of HRT, one of three teams that entered Formula One in 2010 wooed by the FIA under the premise of a budget capped formula which would effectively create a level playing field.

Instead, costs have risen, a situation exacerbated by the introduction of a new engine formula for 2014, and while the gap between the haves and have-nots has widened ever further, teams are facing the prospect of having to merge with rivals or even going under.

On Monday, the FIA announced that "the principle of a global cost cap has been adopted" and that the "limit will be applied from January 2015", which is surely where we came in... as did Virgin, Hispania and (ahem) Lotus.

Not the best of weeks for the sport's governing body.

Check out the Memento Exclusives sale - amazing offers on 2013 merchandise in time for Christmas!

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READERS COMMENTS

 

1. Posted by GoodPublicity, 12/12/2013 15:00

"Please form an orderly queue everyone ... anyone?"

Rating: Neutral (0)     Rate comment: Positive | NegativeReport this comment

2. Posted by Darvi, 12/12/2013 7:23

"Everyone will be rushing to sign up for this... look at all the money and success that the young teams have enjoyed. Maybe they should revise the prize money rules so that all competing teams get a share of the fund and, also, make the fund significantly bigger, so that the teams can survive without having to take in pay drivers. Then they might have something to sell. "

Rating: Positive (1)     Rate comment: Positive | NegativeReport this comment

3. Posted by Paul C, 12/12/2013 3:19

"Ferrari should enter a Junior team under the hallowed name of...Maserati! "

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