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Formula 1: FIA invites new team 'expressions of interest' for 2015, 2016

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The FIA invites expressions of interest from entities seeking to mount a Formula One World Championship racing team, according to a post on its website on December 11. Interested potential entrants need to meet an initial deadline of January 3, 2014 to register a formal expression of interest. Candidates will be reviewed based in the "long-term interests of the Championship," according to the FIA.

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Several specific requirements must be met for initial consideration to be added as a 12th team in Formula 1, according to the FIA. These include a $5,000 "initial registration" fee.

Other requirements include: "A cover letter introducing the candidacy; the candidate’s full contact details; 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."

In addition, potential teams need to submit: "the identity of all shareholders and the ultimate beneficial owner of all shares; a curriculum vitae for each director and officer of the company; and information on the candidate’s relevant experience and capabilities, including technical experience, racing experience, facilities, equipment and engineering resources."

All of the above needs to be submitted to the FIA's Secretariat before 5:00 p.m. CET on January 3, 2014. Late submissions will be considered only at the discretion of the FIA.

The FIA indicates that once a formal expression of interest is filed, the full application process will commence. This will include a total application fee of $130,000 (against which the $5,000 will be applied). Among its selection criteria, the FIA has indicated the following may be considered: "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."

According to NBC, the last new teams to join the Formula One World Championship came in 2010 when Hispania, Virgin Racing, and Lotus Racing signed on. As NBC reports, Hispania phased into HRT and left the series at the end of 2012, while Virgin and Lotus Racing remain in the series as the Marussia and Caterham teams, respectively.

The new, twelfth or subsequent team could commence racing in the 2015 or 2016 seasons with a term taking it up to and including 2020, according to the FIA. Should no team be considered "suitable" by both the FIA and the commercial rights holder through the call for applications, no new team will be chosen.

In 2013, 11 teams ran the 19-race season that takes cars, crews, drivers, and full garages and more full of parts, fuel, tires, and other materials on a grand tour of Grand Prix racing around the globe.

The 2014 FIA Formula One World Championship race season, with the currently existing 11 teams, begins in mid-March with the Australian Grand Prix in Melbourne.

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ABOUT THE AUTHOR: Connie Ann Kirk, Ph.D. has been credentialed by the FIA to write about Formula 1. With a historic racer from upstate New York, she is writing a new book about racers and racing.

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