What is included on the FIA list of requirements for upcoming Formula 1 entrants?

Meeting the FIA's requirements is essential for success in Formula 1 - from safety standards to financial stability, all entrants must adhere to the regulations outlined in the official FIA list.

On the brighter side of life, the FIA has announced the opening of the application process for aspiring new Formula 1 teams, and they have stated their requirements for what they need from their applicants. It seems F1 racing has new interesting plans as it is calling out for additional of new racing teams.

In a detailed accompanying document with their announcement of the opening of expressions of interest, the motorsport’s governing body revealed in detail what potential candidates are expected to provide in the application process. A total of $300,000 is needed as an application fee. The governing body is requesting relevant detailed documents of the people running the team, details about the company, the owner, and the request to sign a non-disclosure agreement about the application process itself while it is being processed.

The FIA has denoted that a full list of requirements will be sent to potential teams once expressions of interest have been filed. After this, Liberty Media, which is Formula 1’s commercial rights holder, may add criteria of their own as the application process unfolds. But as for the moment, the FIA’s requirements include but are not limited to:

(1) The ability of technicality and resources of the team.

(2) The ability and power of the team to raise and maintain sufficient funding to meet its financial needs and to allow participation in the Championship at a competitive level.

(3) The ability of the team to meet and its compliance with the obligations under the F1 Sporting, technical, and financial rules and regulations.

(4) A detailed business plan, including financial foreshadowing for the first 5 years of the project.

(5) The team’s experience and capabilities in the motorsport sector which includes technical experience, racing experience, facilities, equipment, relevant staff headcount or experience.

(6) Whether the team and all individuals proposing to participate in the ownership, control, or management of the team are fit and able-bodied persons.

(7) Sustainability considerations, EDI (Equality, Diversity, and Inclusion), and the societal benefit.

(8) The FIA’s assessment of the value that the candidate may bring to the Championship, including consideration of its reputation and integrity.

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However, on a crucial note, this announcement does not guarantee that the sport will be expanding its grid in the near future, as the FIA nor Formula 1 is under any obligation to accept any of the applications which are sent to them.

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