Two teams fail F1 entry bids: Report

Two teams have reportedly failed the selection process to enter Formula One in 2016 or '17. According to a report in AUTOSPORT, the International Automobile Federation (FIA) has invited candidates to submit their bids to join F1.

By Jayanta Oinam | Last Updated: Aug 15, 2015, 00:40 AM IST
Two teams fail F1 entry bids: Report

New Delhi: Two teams have reportedly failed the selection process to enter Formula One in 2016 or '17. According to a report in AUTOSPORT, the International Automobile Federation (FIA) has invited candidates to submit their bids to join F1.

The report claimed that at least two teams have applied to join the highest-class of motor racing but their bids failed to meet the rigorous demands placed by the FIA, motorsport's governing body.

"We can confirm that the FIA received two candidate Formula 1 team applications for vacant grid slots. We subsequently put these through our comprehensive diligence processes," the report quoted an FIA spokesman.

This means that there will be only 11 teams on the grid, at least till the 2017 season. But this doesn't restrict the possibility of a new tender opening, at the behest of any of the major manufacturer like Renault or Audi. In June, Haas F1 became the 11th team and will enter the grid in the 2016 season.

"Unfortunately none of the applicants were able to meet the FIA's criteria for new teams despite being granted every opportunity of doing so, and we now consider this round of applications to be closed," the spokesman continued.

It's believed that F1 is looking to secure the long-term future of the sport, and one step is to increase the count of competing teams. But recent cases of financial instability and the subsequent administration to erstwhile Caterham and Marussia teams have forced F1 to adopt a rather stringent entry norms.

And the FIA has reportedly assessed the candidate teams on their technical ability and resources, ability to raise and maintain sufficient funding to allow competition in a desired level, overall experience and human resources, and also the value the team may bring to F1.