FIA wants new Formula 1 team for 2015 or ’16

Formula One’s governing body wants another team on the starting

grid from 2015 or `16.

The FIA says it has launched a selection process to add a new

team for the first time since HRT exited the sport last year.

FIA says interested candidates have until Jan. 3 to submit their

formal expression of interest plus a non-refundable $5,000

deposit.

Full applications should be submitted by Feb. 10, with a

decision expected by Feb. 28.

FIA says ”the long-term interests of the championship will

determine which candidates are selected.” FIA will guarantee a

spot for the new team until at least 2020.

HRT, formerly Hispania, had entered F1 in 2010 alongside the

teams now known as Marussia and Caterham.