The FIA has opened up a new selection process for another team to enter Formula 1 at the start of 2016 or 2017.
In a bid to ensure the long-term sustainability and future success of the sport, the FIA has invited potential new outfits to express their interest in joining the F1 grid.
The field has decreased to 10 teams for the 2015 season following the demise of Caterham, but the Haas F1 Team is set to debut next season and increase the grid to 22 cars. However, concerns over the future of several current outfits remain.
The FIA said in a statement: "Having due regard for the sustainability and future success of the Formula One World Championship, the FIA has opened a new selection process to identify a candidate team to participate in the Championship from the start of the 2016 or the 2017 season.
"The overall long-term interests of the Championship will determine which candidate is 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 30 June 2015.
"The application process will commence with those who have registered an expression of interest before the aforementioned deadline (late applicants will be admitted only at the FIA’s discretion).
"All applicants will be expected to undergo thorough due diligence. By way of indication only, the applicable selection criteria will include:
"In the event that no applicant is considered suitable by both the FIA and the commercial rights holder, no additional team will be selected."
This article first appeared on Richland F1.
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| © Octane Photographic |
The field has decreased to 10 teams for the 2015 season following the demise of Caterham, but the Haas F1 Team is set to debut next season and increase the grid to 22 cars. However, concerns over the future of several current outfits remain.
The FIA said in a statement: "Having due regard for the sustainability and future success of the Formula One World Championship, the FIA has opened a new selection process to identify a candidate team to participate in the Championship from the start of the 2016 or the 2017 season.
"The overall long-term interests of the Championship will determine which candidate is 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 30 June 2015.
"The application process will commence with those who have registered an expression of interest before the aforementioned deadline (late applicants will be admitted only at the FIA’s discretion).
"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.
"In the event that no applicant is considered suitable by both the FIA and the commercial rights holder, no additional team will be selected."
This article first appeared on Richland F1.
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