FIA seeks new Formula 1 team to join the grid

Formula 1's governing body launched a tender for a potential new team that could join the starting grid as early as next season.

The International Automobile Federation (FIA) said it had opened a process "to identify a candidate team to participate at a competitive level" from the start of 2016 or 2017 until at least 2020.

Details of the selection criteria and process will be revealed to those registering their interest by June 30, and paying an initial non-refundable fee of $5,000.

Full applications should be submitted by 1 September with a decision expected on 30 September. The total application fee was set at $130,000.

Formula One currently has 10 teams, with some of them struggling financially. The American-based Haas team is due to join next year as the 11th -- if all of the others survive.

The sport has not had 12 teams, and 24 cars, since the end of 2012. Three new teams joined in 2010 but only one is still competing -- the Manor Marussia outfit that went into administration and missed the last three races of 2014.

Caterham folded at the end of last season while HRT ceased to exist after 2012. However, the sport's commercial supremo Bernie Ecclestone said a year ago, after the last such tender, that Formula One had agreed to accept two new teams with one of them being Haas.

The FIA said all new applicants would be expected to undergo thorough due diligenceand satisfy them as to their technical ability and resources.

The governing body said it would also assess the value that any new team could bring to the championship, and it would not select a team if it deemed none were viable.

Candidate teams could be sourced from GP2 Series with the likes of ART Grand Prix, DAMS and Carlin have the pedigree, or alternatively heavy hitters such as Renault or VW Group.

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.

For further details please go to: http://www.fia.com/invitation-tender