FIA outlines the application process, deadlines for expansion teams hoping to gain entry into Formula 1
The FIA has outlined that it is seeking any interested team to join Formula 1 in 2025, 2026 or 2027.A fee of $300,000 required, and the FIA expects to make a decision on those applications by June 30.
The current Concorde Agreement expires in 2025 and it is understood the existing teams are striving to substantially raise the $200 million fee due to the recent growth of Formula 1. Existing F1 tTeams have so far been resistant to new entries over fears their finances will be adversely affected by new squads taking an additional share of revenues.
All applicants, including individuals involved in the ownership, control or management of the team, will be required to undergo due diligence checks. The FIA says that Liberty Media"may also may also impose additional selection criteria/conditions," which will be advised during the application process.
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