Mohammed ben Sulayem promised last month via twitter to begin a process whereby teams interested in joining Formula One could make an expression of interest. Since then Andretti Racing announced a hookup with General Motors with a view to an F1 partnership and the Asian based project Panthera has also since reiterated their desire to join the Formula 1 grid.
Today in a press release the FIA “announces the official launch of an application process to identify prospective teams seeking to participate at a competitive level in the FIA Formula One World Championship.”
FIA press release
The statement makes reference to the FIA having already receiving “a high level of interest.”
“All applicants will undergo thorough due diligence. 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.”
Applicants must have a ‘net zero’ plan
Any potential applicant will need to demonstrate how they will achieve ‘net zero CO2’ by 2030 and how its participation in F1 will achieve a “positive societal impact.”
The statement concludes, “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.”
Relations thaw between FIA and F1
This paragraph would suggest there has been a thawing of relations between the FIA and F1 who sent a letter threatening legal consequences were the president of the FIA to make further negative comments about the value of their contract for F1’s commercial rights.
Yet whether this is merely the FIA pressing ahead with the application process regardless will only become evident when the team principals are exposed to press scrutiny on the topic.
