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FIA open F1 application process for TWO new teams

FIA open F1 application process for TWO new teams

FIA open F1 application process for TWO new teams

FIA open F1 application process for TWO new teams

The FIA has officially opened applications for new teams to enter F1, with the potential of up to two teams being considered.

The governing body has made the move a month after president Mohammed Ben Sulayem triggered an 'Expressions of Interest' process.

Andretti Global had announced a bid to join as an 11th team from 2024 last year but was met with initial resistance from the incumbent teams over a lack of value being added by the outfit.

But the addition of General Motors and Cadillac strengthened this bid, with the Andretti Cadillac Racing entry far stronger in appeal.

Yet it is understood only two teams are backing the potential entry, with the remaining eight still concerned by the dilution of the prize pot.

It has been suggested that further interested parties are 'less visible' than Andretti Cadillac, but by no means less likely to join.

Criteria laid out

A statement from the FIA read: "The FIA welcomes interest from entities with a serious intent to enter the FIA Formula One World Championship. The high level of interest from a number of potential candidates is further proof of the popularity and growth of the Championship.

"All applicants will undergo thorough due diligence. The assessment of each application will cover in particular the technical capabilities and resources of the applicant team, the ability of the team to raise and maintain sufficient funding to allow participation in the Championship at a competitive level and the team’s experience and human resources.

"For the first time ever, any candidate would be required to address how it would manage the sustainability challenge and how it plans to achieve a net-zero CO2 impact by 2030.

"Any prospective F1 team would also need to illustrate how they intend to achieve a positive societal impact through its participation in the sport. This would help meet the mutual aims of the FIA and Formula One Management.

"The overall long-term interests of the Championship, involving all stakeholders, will determine which candidates are selected together with the applicable regulations and governance arrangements.

"The terms of the formal application process [together with the complete selection criteria, applicable deadlines, legal requirements and other conditions] will be communicated to candidates that submit a preliminary expression of interest to the FIA."

Should a team be successful in its application, it would be able to choose whether it would enter in either 2025, 2026 or 2027.

Of these, 2026 would offer new teams the chance to enter in parallel with new regulations.

READ MORE: F1-FIA conflict: New Ferrari boss makes prediction for Bahrain

Prospective teams will be assessed on the ability of teams to 'raise and maintain sufficient funding' to meet such obligations and to ensure competitiveness - criteria put down to avoid the struggles endured by Hispania [HRT], Virgin [Manor, Marussia] and Team Lotus [Caterham] early last decade.

A 'detailed business plan' must be provided for the first five years of the project to confirm stability.

All individuals proposed to be involved in ownership or control of any new team will have to be proven to be 'fit and proper persons' in a bid to dissuade outfits being mismanaged.

A shared final say

Crucially, the value of each team for F1 will be considered by the FIA, which has indicated that Liberty Media could also place additional conditions on any team, given the sport's unwillingness to expand.

The FIA documents confirmed that it is not solely responsible for a final decision on the matter.

Ben Sulayem said: "The growth and appeal of the FIA Formula One World Championship is at unprecedented levels. The FIA believes the conditions are right for interested parties, which meet the selection criteria, to express a formal interest in entering the Championship.

“For the first time ever, as part of the selection conditions, we are requesting that candidates set out how they would meet the FIA’s sustainability benchmarks and how they would make a positive societal impact through sport.

“The process is a logical extension of the positive acceptance of the FIA’s 2026 F1 Power Unit Regulations from engine manufacturers which has attracted Audi to Formula 1 and created interest among other potential entrants.”

READ MORE: February 2023: Key dates for your diary


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