MARCH 19, 2010
FIA invites new teams to apply for 2011
The Federation Internationale de l'Automobile (FIA) has announced the opening of a new selection process to find possible entrants for the 2011 Formula 1 season. Earlier in the month the governing body said that it would be looking to fill the grid after USF1 failed to successfully enter the championship this season.
The FIA said that the process will be open to all candidates capable of racing in the 2011 and 2012 championships, and they will identify one or more "reserve" candidates to fill any opening that may exist next season.
The FIA issued the following release:
The FIA has decided to open a new selection process to identify a candidate team to fill any vacancy that may exist in the FIA Formula One World Championship at the start of the 2011 season. The FIA may also identify one or more possible 'reserve' entrants to fill such vacancies.
This selection process will be open to all candidates capable of participating in the Championship for 2011 and 2012. The overall long-term interests of the Championship will determine which candidates are 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 Thursday 15th April 2010, together with an administration fee of €1,000. The application process will commence at that time with those who have registered an expression of interest before this deadline (late applicants will be admitted only at the FIA's discretion). This fee is non-refundable, although it will be offset against the application fee, which the FIA will require from those submitting full applications.
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;
(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 timing of this process will depend on the candidates' responses. However, by way of indication only, the FIA anticipates that full applications will need to be submitted by the end of June, followed by due diligence leading to a decision in July 2010.