FIA searches for new team

Selection process: The FIA

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The FIA announced on Friday that it is to start the selection process for a 13th team to compete in Formula One for at least two years from 2011.

The move comes after US F1, one of four new outfits granted an entry for this season, withdrew after suffering financial difficulties.

Motorsport's governing body has initially asked for expressions of interest from any potential new team, insisting "the overall long-term interests of the championship will determine which candidates are selected".

The closing deadline for this stage is Thursday, April 15, with candidates expected to pay an administration fee of 1,000 euros (£900).

There then follows a formal application process, with applicants undergoing thorough due diligence and also required to meet four key criteria to prove their suitability.

They are: the technical ability and resources of the team; ability to raise and maintain sufficient funding to allow participation; the team's experience and human resources; the FIA's assessment of the value the candidate may bring to the championship as a whole.

Problems

The FIA is determined this time to avoid the problems that plagued US F1, as well as Hispania Racing.

The latter outfit, who were known as Campos Meta prior to an internal takeover, also struggled raising money to compete and arrived at last week's Bahrain Grand Prix having undertaken no testing.

All completed applications must be submitted by the end of June, with an announcement on the successful candidate to be made the following month.

Likely candidates include Stefan GP, who took over Toyota's cars and resources in the hope of being granted a late entry for this season, and David Richards' Prodrive organisation.

The FIA has also indicated the possibility of identifying one or more possible 'reserve' entrants to fill any vacancies that may subsequently arise.