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By Clare Jim, Jonathan Stempel and Dietrich Knauth HONG KONG/NEW YORK Embattled developer China Evergrande Group has filed

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GENEVA--(BUSINESS WIRE)--Dec 2, 2023--

McLaren’s Zak Brown believes there has only been one “credible” bid in the last decade from teams looking to enter the Formula 1 grid - from Guenther Steiner’s Haas team. In January, the FIA officially launched an application process for prospective F1 teams and it has now moved into the formal application stage. Several parties have reportedly declared interest in putting themselves on the grid in the future. The deadline for formal applications was 15 May, with the FIA planning to make a decision on those prospective teams by 30 June. “I think it’s exciting,” Brown said in Miami, of new teams potentially joining the grid. “I remember when I started following Formula 1, you had pre-qualifying, I think there were 30-31 cars trying to show up to make the show. “So, I think an increase in the grid of the right teams that bring the right resources and are additive to what we’re all trying to do and help grow the sport then I’m all for it. “What we can’t have is... really the only credible, sustainable team that I’ve seen in the last decade is Guenther (Steiner’s Haas). “And so, what we do need to make sure is if someone enters that they really have the commitment and can do what it takes. “Because in my experience, I think in a variety of motorsports, you do see a lot of dreamers and what we don’t need with the health of the sport is a team coming in underestimating what it’s going to take and two years later, they’re gone. “So, hats off to Haas for the commitment they’ve made and continue to make to the sport, so we need more teams like that.” The highest-profile prospective new team would be Andretti-Cadillac, while Hitech GP have also expressed an interest in joining the grid. Last week, The Independent interviewed Hong Kong billionaire Calvin Lo - who insisted he was keen on joining forces with a bid from Asia. Under the current rules, a maximum of 12 teams can be on the F1 grid. Additions to the current 10-team grid could be made as soon as 2025. Read More Lewis Hamilton and Mercedes are the biggest losers from Imola Grand Prix cancellation F1 Imola Grand Prix cancelled Inspired by Schumacher, meet the Hong Kong billionaire targeting a new Formula 1 team Where are Mercedes and Ferrari? Frankly, you don’t want to hear the answer ‘Nasty piece of work’: Lewis Hamilton’s Mercedes slammed by Toto Wolff

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