Official: FIA opens tender for a 12th team in F1

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 hwo have registered a formal expression of interest with the FIA’s Secretariat before 5pm CET Friday 3 January 2014, together with an initial administration fee of US$5’000.

The formal expression should include:

(1) A cover letter introducing the candidacy;
(2) The candidate’s full contact details;
(3) The candidate entity’s certificate of incorporation, details of its administrative headquarters, the date 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;
(4) The identity of all shareholders and the ultimate beneficial owner of all shares;
(5) A curriculum vitae for each director and officer of the company;
(6) Information on the candidate’s relevant experience and capabilities, including technical experience, racing experience, facilities, equipment and engineering resources.

The FIA hereby invites interested parties to send a formal expression of interest covering points (1) through to (6) above together with proof of payment of the initial administration fee of US$5’000 by email to the FIA Secretariat

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).

The administration fee is non refundable, and it will be offset against the total application fee of US$130’000, which the FIA will require from those submitting full applications. 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
10 February 2014, leading to a decision on 28 February 2014. In the event that no applicant is considered suitable by both the FIA and the commercial rights holder, no additional team will be selected.