FIA, the governing body of motorsports, has officially started the process of inviting proposals from potential new F1 teams interested in joining the sport in 2025.
In a statement issued on its official website, the FIA also underlined the rules any prospective teams will have to undertake to begin their entry in 2025, 2026 or 2027.
Teams proceeding to a formal application process must pay a fee of $300,000 to cover due diligence checks carried out by the governing body. The criteria for the selection include a detailed business plan for the first five years and, for the first time, proof of sustainability and how the team intended to “achieve a positive societal impact through its participation in the sport.”
The deadline for submission of formal applications has been set as April 30th with any decision by June 30.
FIA had been on the lookout for new F1 teams to join the gird due to the ever-rising popularity of Formula 1 which has led to more revenue-generating streams from the sport.
Their decision, however, has not gone down as easily as hoped because the current teams are reluctant to take home a smaller piece of the revenue generated pie, especially during this new commercial boon.
The competition is limited to a maximum of 12 teams up to the 2025 season which has forced interested parties to take over operations from current teams like Audi with Sauber instead of fielding their own or striking a commercial partnership like Ford with Red Bull.
Andretti has already expressed an interest in being an 11th team and F1 is likely to face no shortage of other applicants.
The relations between the FIA and F1 have not been genial in recent times and this decision is likely to add more fuel to the fire.