Formula One’s governing body the FIA has opened the bidding process to find a new team to join the sport within the next two years.
The candidates must have the technical ability and resources of the team. The team will need to be able to raise their own money and be able to participate in the Championship at a competitive level.
According to documents on the FIA website the candidates must also meet there standard tendering process based on fairness, safety and costs. Also the candidates must set out there experience and capabilities
This includes technical experience, racing experience, facilities, equipment and engineering resources.
The team the bidder is replacing is the Caterham team which folded at the end of the 2014. Meanwhile, Haas was due to replace the Spanish team which collapsed in 2012. Last year F1 boss Berine Ecclestone said that two new teams including Haas were accepted to join the sport.
There has been wide spread reports that Audi was considering entering the sport. The German manufacture ruled out an entry into Formula One after speculation of a partnership with former champions Red Bull.
The press release says that all teams most have the long term interests of the sport. Team will be required to compete in F1 until the 2020 season.
Any full applications needed to submitted by September 2015 with a decision made by the end of the month.