The deadline for potential new teams to join Formula 1 in future has arrived, with the initial applications now being reviewed by the governing body.
A process for interested parties to submit an expression of interest opened earlier this year and remained open for a number of months, with the likes of Andretti Cadillac keen to join the F1 grid. Craig Pollock also recently confirmed a submission from his ‘Formula Equal’ project that is backed by a Gulf region country, and the FIA is now reviewing all of the applicants.
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“The deadline for applications for potential new entrants is now closed,” an FIA spokesperson confirmed to RACER. “The FIA is in the process of an initial review of the applications received. There will not be any communications during this part of the process as the FIA engages with applicants in respect of confidentiality while it may necessary to make clarifications with the potential entrants.”
The FIA would not confirm how many applications had been received at this stage, but the governing body and F1 do have the ability to accept multiple new teams should they wish.
When announcing the process back in February, the FIA explained what it would be focusing on when analyzing any submissions.
“The assessment of each application will cover in particular the technical capabilities and resources of the applicant 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,” the FIA stated.
“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.”