FIA taking applications for 12th team in F1

FIA announced selection process for 12th team

FIA announced that it is taking applications for a 12th team in F1 that could join the grid as early as 2015 or 2016 season.

Potential new entrants have until Friday 3rd January 2014 to register their interest with the FIA’s Secretariat. An initial administration fee of $5,000 will have to be paid along with the registration.

“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,” a statement on their website read.

“The overall long-term interests of the Championship will determine which candidates are selected.”

The FIA revealed that the applicants will be judged on:

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.

The governing body plans to announce any new team on 28th February 2014. In the event that no candidate is deemed suitable by the FIA and the commercial rights holder, no additional team will be selected.

Hispania, Virgin Racing and Lotus Racing were the last teams to have joined the series. Hispania was renamed HRT but withdrew at the end of 2012, while Virgin and Lotus Racing are still in the sport but have changed their names as Marussia and Caterham respectively.