U m to prevent such unsuccessful Formula 1 projects in the future , the FIA has established a new selection process. This is to ensure that a team really has the necessary know-how and the financial means to get into Formula 1 if a place becomes vacant in the starting field.
Deadline for the application on April 15th
All teams that are able to start in the 2011 and 2011 season can take part in the selection process. To participate, a formal expression of interest must be submitted to the FIA by April 15th. In addition, the FIA charges a fee of 1,000 euros. The fee will not be reimbursed to the teams, but will be deducted when enrolling.
The preliminary selection criteria include the team's technical capabilities, secure funding, the team's experience and personnel, and the FIA's assessment of what the new Team brings the championship for a gain in value. A decision should then be made by July 2010.