Formula One’s governing body, the FIA, have opened a new selection process in order to have new teams enter the grid for the 2016 or 2017 season.
The move is said to be for: "The overall long term interests of the Championship." With the current field at ten teams as well as American team Haas joining as of next season, Formula One could have its biggest grid since the 2012 season, in which 12 teams competed.
The deadline for prospective new teams to confirm their interest is June 30, any applications made after the deadline will be subject to FIA confirmation. But following this there’s a set of criteria the new teams must meet if they are to join the likes of Ferrari, McLaren and Red Bull on the grid.
The criteria includes:
"The technical ability and resources of the team, the ability of the team to raise and maintain sufficient funding to allow participation in the Championship at a competitive level, the team’s experience and human resources, and finally the FIA’s assessment of the value that the candidate may bring to the Championship as a whole."
Applications need to be completed by September 1, with a decision coming September 30.
This new process could see long lasting rumours put to bed that German manufacturers Audi and Volkswagen are contemplating joining the grid. These rumours have been furiously denied by both parties, but following the resignation of Volkswagen chairman Ferdinand Piech, it’s thought the move could well and truly happen.
There was fears last season that not enough teams would be able to compete due to financial instability, with both Caterham and Marussia going bankrupt at the end of last season. Manor have since risen from the ashes of Marussia but are way off the pace, and have finished last in all of the races so far this season.
If no entry satisfies the FIA to a certain standard by September the 1st, then no new teams will enter the grid.