The FIA president has confirmed that the FIA are looking to open an “expression of interest” process for new teams wishing to enter Formula 1.
Formula 1 and the FIA have indicated that they are willing to allow new teams to enter Formula 1. This is a major step forward for prospective new teams to enter Formula 1, including Andretti Global, who have expressed a desire to enter Formula 1, the American based company had negotiations with Saubar, however these talks broke down, leading to Andretti looking to bring a brand new team to the Formula 1 grid, the first wholly new team since HAAS entered in 2016.
When Andretti publicly expressed a desire to enter Formula 1 for the 2024 season, the FIA and Formula 1 explained that it was not in a “position to consider” new entries.
The cagy response from the FIA was in part led by the F1 paddock and the current concord agreement, which has a $200million “anti – dilution fee” payable to all current Formula 1 teams. Further, an unwillingness to allow teams to enter unless they meet a very high threshold was also driving the unwelcoming rhetoric from the Formula 1 world.
THE FAILURE OF THE CLASS OF 2010
In 2010, the doors to the F1 paddock were opened, allowing three new teams to enter, (Mercedes were the fourth new team, however they had taken over Brawn GP), Virgin Racing, Hispania Racing F1 Team and Lotus Racing took the grid for the start of the season.
Lotus Racing/Caterham:
The team competed until 2014, where they entered administration in October 2014 (as Caterham F1), they would miss the US GP and the Brazil GP, the team would return to race the final race of the 2014 season after resorting to crowdfunding to finance the team. By February 2015, the FIA released the 2015 entry list, which showed the removal of Caterham, this confirmed the official demise of the team.
HRT F1 Team
HRT F1 Team were involved in struggles even before they entered Formula 1, with the team struggling to meet their financial obligations, even going as far as to publicly announce that they may have to skip 2010 winter testing and that they will not announce their second driver until the eve of the first race of the season. The team would finally make the grid after majority shareholder Jose Ramon Carabante had taken full control of the team from Adrian Campos, who was also replaced as Team Principal. The team was renamed as Hispania Racing Team (HRT).
The first race of the 2010 season was an impromptu pre season testing for HRT, with limited running, the car would take the track in the practice sessions for the Bahrain GP, they would be 11 seconds off the pace.
Qualifying was not much better with the team managing 23rd and 24th, 8 seconds slower than pole sitter Vettel.
The team’s fortunes would not get any better with both drivers unable to race at the 2012 Australian GP as both cars were unable to qualify within the 107% of the fastest lap in the first part of qualifying.
By November of 2012, it was announced that the team had been placed up for sale with a 30th November deadline due to entry fees being due by that date. Unfortunately they were unable to find a buyer, the team fell into liquidation soon after.
Virgin Racing/Marussia
Virgin entered Formula 1 as a sponsor with Brawn GP in 2009, this lead them to to teaming up with Manor Motorsport for entering F1 in 2010.
The team would run as Virgin Racing until 2012 when it was rebranded as Marussia where it would run until 2014. The team would secure their first points at the Monaco GP with Jules Bianchi, however the season would end disastrously when Bianchi would be seriously injured during the Japanese GP and with financial issues growing the team would withdraw from the remainder of the 2014 season.
An 11th Hour rescue package allowed the team to return to the grid for the 2015 season under the name Manor Marussia.
The team would continue at the rear of the grid until the end of the 2016 season; they would not return to the Formula 1 grid due to parent company Just Racing Services being placed into administration and subsequently liquidation after they were unable to find a buyer.
FORMULA 1 CAN NOT AFFORD A CASE OF DEJA VU
The loss of Manor Marussia, would be the end of the class of 2010, all three teams would be out of Formula 1 6 years after entering the sport.
The failure of the three teams will still be fresh in the memory of the Formula 1 paddock, they will be clear to the FIA and the upper management that such a situation can not happen again.
The introduction of several regulations to allow parity throughout the F1 grid will help with the sustainability of a future team, however any potential new team will require that they have the required infrastructure and financial backing to sustain a long term F1 team.
The expression of interest was recently confirmed and strengthened when Mario Andretti appeared on the EverythingF1 Podcast. With Mario informing us to “Start saving” when talking about the potential for Andretti Autosport merchandise. You can listen to the interview on the podcast here… in Episode 101 of the show.