FIA opens F1 grid to prospective new entrants
All applicants will be expected to undergo thorough due diligence
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:
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.