FIA opens selection process for new team

The FIA has opened a selection process for a new team to join the F1 grid from as early as 2015.

Interested parties have been requested to register "a formal expression of interest" with the governing body's Secretariat by 5pm CET on Friday January 3, following which each party will be given further details.

"The FIA has decided to open a new selection process to identify a candidate team to participate at a competitive level in the FIA Formula One World Championship from the start of the 2015 or the 2016 season up to 2020 inclusive," read a statement issued by the governing body on Wednesday evening.

"The overall long-term interests of the Championship will determine which candidates are selected."

The sport's latest additions came ahead of the 2010 season, when Virgin Racing, now known as Marussia, Lotus Racing, now named Caterham and Hispania Racing were granted entries.

Last season, HRT was forced to drop out amid financial problems, leaving the current total of 11 teams.

The precise terms and conditions of the application process can be read on the FIA's official website.