March 22, 2023

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For “F-1” still select new teams! They demand a business plan, $200 million and support for “equality and the environment”

We have known LeBron for over 20 years. He was constantly changing, but remained unstoppable

We have known LeBron for over 20 years. He was constantly changing, but remained unstoppable

In F-1, a process has been launched that has not been seen for almost 25 years: after a month of media war with other teams for the application of the American Andretti-Cadillac, the FIA, the regulator of world racing , has nevertheless opened an official tender for adding new teams!

They plan to limit the peloton to 24 cars – and existing organizations are not issued automatic admission, but are promised “advantages in the formation of the list of participants.” Those who pass the selection will be able to start in 2025, 2026 or 2027 – at their choice. Applications are expected until April 30, and the decision on admission and expansion is promised to be announced before June 30.

8 criteria for new teams: business plan, contribution, participation in equality programs

Theoretically, anyone can apply (yes, even you) – the last time in 2009, 15 organizations announced their desire to ride in F-1. 12 reached the stage of consideration, 9 – to the stage of the interview, and the admission was issued to four: USF1 (it was never seen in the races), the future Marus, HRT and Lotus (the future Katrerham). Moreover, the long list included both the revived Brabham, March and Lola, as well as the strong youth Epsilon Euskadi and Prodrive, as well as frankly amateur (they planned to travel on donations) and even obvious scams Stefan G.P.

Right now there are only two contenders.– the American racing empire “Andretti”, teamed up with “Cadillac“, and the vague project of former team chief Boris Rotenberg “Panther Asia”. Both were equally disliked by the rest of F-1: the first with rough pressure and a lack of understanding of the current balance in the championship, and the second with a general unclear state (work seems to have begun, but stopped due to the coronavirus, there seem to be agreements on engines, but no specifics).

All the rest – “Porsche”, “Hyundai” and “Ford” – were mentioned only at the level of rumors.

However, the admission criteria are the same for everyone – there are eight of them:

1. Technical ability and resources of the team: most likely, this refers to the base, factory, expected engineering staff and agreements with partners.

2. The ability of the team to obtain and maintain the necessary funding to fulfill financial obligations and participate in the championship at a competitive level: most likely, they will evaluate the ability to pay the mandatory contribution under the Consent Agreement of $ 200 million.

3. The ability of the team to comply with and fulfill obligations under the Sports, Technical and Financial Regulations.

4. Detailed business plan for the next 5 years – including a financial projection.

5. Team capabilities and experience in the automotive and/or motorsport industry (technical, racing, infrastructure, engineering) and staff experience.

6. The right people with control over the team regardless of the ultimate owners.

7. Environmental issues, equity, representation and inclusion, and social benefits.

8. Evaluation of the value of the participant for the championship, including reliability and reputation – this will be done by the FIA.

The regulator promises to judge each candidate based on “general long-term investment in the championship, along with satisfaction with existing rules and governance mechanisms.”

The application can be submitted via email (although this only costs $20,000) with full disclosure of corporate information, owner details, biographies of every key employee in the state and a full overview of personal experience related to cars and racing. They are waiting until February 17th.

Next, the stage of deep verification of the candidate will begin – it costs $300,000. After payment, the stage of submission of all requested reports, hearings and interviews will begin, along with possible visits to possible racing bases. The one who has passed the whole process to the end is not given a guarantee of reaching the start.

Only one suitable candidate

What does all of this mean? It seems that by April 30, the prospective candidate should already have a base for the team, several key employees for the future technical headquarters and racing division, agreements with sponsors and technical partners, as well as minders. Or at least firm contracts for the purchase or acquisition of all this in the very near future.

That is, plans and promises to build a plant by 2027 will not work: the FIA ​​seems to be waiting for at least a clear project close to the implementation stage. This already greatly raises the entry threshold: the Panther of Asia, for example, did not have a base in stock and was only going to acquire it or build it sometime in the future. For giants like Porsche or Ford, this can be easier, of course.

The team will clearly need strong financial guarantees and the guarantee of sponsors right off the bat. Quite difficult, given the expected delay in getting to the start.

Obviously, the advantage will be given to people experienced in racing matters, and dubious personalities are immediately hinted: do not even waste your and our time. Another transparent hint towards the “Panther” and the like.