F1 is seeking a twelfth team. With the Spanish stragglers HRT having pulled out at the end of the 2012 season, the FIA on Thursday launched a "selection process" to find a new team "to participate at a competitive level" in time for 2015 or 2016.
In a media statement, the FIA said expressions of interest will close on 3 January. An accompanying document said the full application fee will be $130,000. "The overall long-term interests of the championship will determine which candidates are selected," it added.
The FIA said it will consider the applicants' "technical ability and resources", and the ability "to raise and maintain sufficient funding". "A decision (will be made) on 28 February 2014," the FIA added in its document entitled 'call for expressions of interest'. "In the event that no applicant is considered suitable by both the FIA and the commercial rights holder, no additional team will be selected," the letter read. (GMM)