29/05/2015
NEWS STORY
The FIA has announced that it is opening a selection process for a new team to enter the Formula One World Championship as soon as next season.
The precise terms of the selection process, together with the applicable selection criteria, deadlines, legal requirements and other conditions, will be communicated to candidates who must register a formal expression of interest with the FIA’s Secretariat before 17:00 on 30 June 2015.
According to the FIA, "the overall long-term interests of the Championship will determine which candidate is selected".
The application process will commence with those who have registered an expression of interest before 30 June (late applicants will be admitted only at the FIA’s discretion) and all applicants will be expected to undergo thorough due diligence.
By way of indication only, the applicable selection criteria will include:
a) The technical ability and resources of the team
b) The ability of the team to raise and maintain sufficient funding to allow participation in the Championship at a competitive level
c) The team’s experience and human resources
d) The FIA’s assessment of the value that the candidate may bring to the Championship as a whole.
By way of indication only, the FIA anticipates that full applications will need to be submitted by 1st September 2015, leading to a decision on 30 September 2015. In the event that no applicant is considered suitable by both the FIA and the commercial rights holder, no additional team will be selected.
At present there are ten F1 teams, though at least three are known to be in financial difficulty. Next year sees Haas join the grid, effectively bringing the number of teams up to 11 as it was in 2014.
However, last year Bernie Ecclestone said that following the last time a tender was put out for new teams, the sport agreed to allow two new outfits, one of them being Haas.
The grid has not comprised 24 cars (twelve teams) since 2012.