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F1: FIA opens selection process for new Formula 1 team

The FIA has decided to open a new selection process to identify a candidate team to participate at a competitive level in the FIA Formula One World Championship from the start of the 2015 or the 2016 season up to 2020 inclusive.

The overall long term interests of the Championship will determine which candidates are selected.

The precise terms of this selection process, together with the applicable selection criteria, deadlines, legal requirements and other conditions, will be communicated to candidates who have registered a formal expression of interest with the FIA’s Secretariat before 5pm CET Friday January 3rd, 2014, together with an initial administration fee of US$5,000.

By way of indication only, the FIA anticipates that full applications will need to be submitted by February 10, 2014, leading to a decision on February, 28 2014.

In the event that no applicant is considered suitable by both the FIA and the commercial rights holder, no additional team will be selected.