02/02/2023
NEWS STORY
Following Mohammed Ben Sulayem's call last month for prospective F1 teams to enter an Expressions of Interest, the FIA has today officially launched the application process.
Of course, at a time there is already a growing rift between the FIA president and the sport's owners, Liberty Media, this will not go down well as the majority of the teams and Formula One Management believe that ten teams is enough.
"The FIA welcomes interest from entities with a serious intent to enter the FIA Formula One World Championship," read a brief statement from the sport's governing body.
"The high level of interest from a number of potential candidates is further proof of the popularity and growth of the Championship," it added.
All applicants will undergo thorough due diligence and the assessment of each application will cover in particular the technical capabilities 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 and the team's experience and human resources.
Also, for the first time ever, any candidate would be required to address how it would manage the sustainability challenge and how it plans to achieve a net-zero CO2 impact by 2030. Any prospective F1 team would also need to illustrate how they intend to achieve a positive societal impact through its participation in the sport. This would help meet the mutual aims of the FIA and Formula One Management.
The overall long-term interests of the Championship, involving all stakeholders, will determine which candidates are selected together with the applicable regulations and governance arrangements.
The terms of the formal application process (together with the complete selection criteria, applicable deadlines, legal requirements and other conditions) will be communicated to candidates that submit a preliminary expression of interest to the FIA.
"The growth and appeal of the FIA Formula One World Championship is at unprecedented levels," said Mohammed Ben Sulayem. "The FIA believes the conditions are right for interested parties, which meet the selection criteria, to express a formal interest in entering the Championship.
"For the first time ever, as part of the selection conditions, we are requesting that candidates set out how they would meet the FIA's sustainability benchmarks and how they would make a positive societal impact through sport.
"The process is a logical extension of the positive acceptance of the FIA's 2026 F1 Power Unit Regulations from engine manufacturers which has attracted Audi to Formula 1 and created interest among other potential entrants."