- FOM has final say on potential F1 teams
- Only Andretti has made serious bid so far
The International Automobile Federation (FIA) has officially launched the application process for prospective Formula One teams.
FIA president Mohammed Ben Sulayem first revealed the new process at the start of this year, when he tweeted: 'I have asked my FIA team to look at launching an expressions of interest process for prospective new teams for the FIA F1 World Championship.'
Any potential new applicant will undergo thorough due diligence, with a particular focus on 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.
Although, the document issued by the FIA reveals that 'existing F1 teams will be given priority over new applicants', with the number of teams being allowed to compete in the championship up to 2025 capped at 12.
It also reveals that Formula One Management (FOM) may impose additional selection criteria and, if no applicant is considered suitable, no new teams will be selected.
“The growth and appeal of the FIA Formula One World Championship is at unprecedented levels. The FIA believes the conditions are right for interested parties, which meet the selection criteria, to express a formal interest in entering the championship,” said Ben Sulayem.
“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 One and created interest among other potential entrants.”
New entrants are required to pay an anti-dilution fee of US$200 million, but this figure is up for review when the new Concorde Agreement is agreed upon for 2026. With many teams believing the current figure vastly undervalues the sport, it could be much higher by the time a new team is permitted to join Formula One.
In addition to financial capabilities, a candidate also needs to address how it would manage the sustainability challenge and how it plans to achieve a net-zero CO2 impact by 2030.
Any prospective Formula One 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 FOM.
The joint entry bid between Andretti and Cadillac is the most serious offer currently on the table, but it has so far been met with a lukewarm reaction as teams are reticent to divide revenues between 11 teams.