Prospective Teams for the 2010 Season

[swca92]

I didn't even know Manor motorsport entered, but they have an excellent record in lower formulae so they earned their entry. Jordan had a stellar record in lower formulae and did well in F1, but Pacific also did well but in F1 sucked. USF1 is an innovative concept, I'm glad they made it in. I think we'll see everyone entered by next week, I think this political c**p will be over soon.

[Ali]

According to the rules, one engine manufacturer can only supply engines for two teams on the grid. Apparantly, Cosworth will supply engines for 3 teams already. Is the rule changed somehow?

[phil1993]

Mercedes power 3 teams this year...

[AzShadow]

You can supply more teams with FIA's consent. Mercedes is supplying engines to three teams this season and Ferrari did the same in 2007 or 2008.

[JoostLamers]

I know. What is Manor? Neverheard...

Who on earth is Manor Grand Prix?

Spoiler:

Manor Grand Prix has been given an entry in the FIA Formula 1 World Championship in 2010 and it is believed that this is a combination of Manor Motorsport and Nick Wirth’s Wirth Research in Bicester. Manor is based in Sheffield and has been active in racing since 1990 when former racer John Booth decided to retire and run a team instead. The team was quickly winning in Formula Ford with drivers such as Marc Gene, James Matthews, Mario Haberfeld and Guy Smith. The team then switched to Formula Renault and won the 1997 British title with Marc Hynes and this was followed by titles for Aluizio Coelho and Antonio Pizzonia in 1998 and 1999. in the second year Manor won the British Formula 3 title with Hynes. In 2000 Pizzonia was British F3 Champion while Kimi Raikkonen won the British Formula Renault title. Lewis Hamilton followed up with the British F3 title in 2003. In recent years the team has concentrated on European F3, but has failed to match its early successes in Britain. The Formula Renault operation was sold off to the team manager Tony Shaw and now competes under the Manor Competition banner.

Code: Select all

http://joesaward.wordpress.com/2009/06/12/who-on-earth-is-manor-grand-prix/

Pretty impressive history in British F3!

[Haukinen]

Räikkönen's team in F3...
Neverheard...

[Ali]

Mercedes power 3 teams this year...

Yeah but I thought this was a special case considering Brawn GP. Here we don't have any special circumstances... or do we?

[phil1993]

Lotus are still hopeful
Wirth will build Manor car
15 teams lodged entries

Alios post links if you want, i need lunch

[JoostLamers]

But we can conclude it wasn't such a big shock after all

[phil1993]

Just thinking, you know BE says Ferrari are legally bound... what if they miss the first 2 races, then they are not allowed to compete the rest of the year

[JoostLamers]

It won't get that ugly Phil

[phil1993]

FIA Q&A

Spoiler:

FIA's Q & A on new team entries

Friday, June 12th 2009, 12:06 GMT

Conducted and provided by the FIA's press office.

Q. How are you ensuring that applicants are adequately and securely funded?

A: We are using professional advisors to make checks on the substance behind any funding sources on top of obtaining reviews of pertinent contracts and other relevant documentation. Bank references have been supplied in many cases.

Q. What is involved in the Due Diligence process?

A: We have requested documentary evidence to support all the new teams' assertions, in particular with regards to funding. Thus we have been provided with accounts, contracts, multi-year business plans and other supporting material. On the technical side we have asked for a thorough description of their capability, key staff, project plans, capital assets (present and planned for), organisational charts, and so on.

Where there are key sub-contractors required we have asked to see contracts and letters of intent. This extends to the sponsorship side, where plans and any descriptions of existing relationships )are required. In all these aspects we have requested evidence that substantiates any claim in the teams' plans.

In the background to these evaluations, where key individuals were identified on the funding side, our forensic accountancy advisors have run reputational checks, alongside the checking of factual data supplied.

Once we had formed an opinion of the serious contenders we asked them to come to London to be questioned face to face by the due diligence team. Then a short summary report on the top five was sent to the FIA President.

Q. Have you enlisted the help of other experts to help with the Due Diligence?

A: It would not have been possible to perform this exercise without expertise from our advisors, Deloitte, who have assisted us throughout. The forensic ability to give advice on the documents provided is invaluable.

Q. How many applicants were there and were all of them taken forward to the due diligence process?

A: There were 15 applicants and we took 12 of these through the process initially. We interviewed nine of the more promising potential teams. There were a surprising number of well-presented entries, with substantial funds behind them.

Q. Is it really possible to perform due diligence on all of these organisations in such a short amount of time?

A: It has been intense. The one advantage is that the short timescale has revealed the teams that really have their plans together and the answers to hand, and those that are making it up as they go along. If they are going to be in Formula One they need to be able to respond quickly and competently. Thus the condensed time line has 'stress tested' the new entrants.

Q. Have you been surprised by how many viable teams have applied to enter the championship?

A: Yes it was a surprise in some ways, but more reassuring than surprising. Formula One is a fantastic prospect and with the financial reforms to lower the barrier to entry to realistic levels it is good to see such a strong market for new teams. This exercise has demonstrated that the only reason there have been vacancies on the F1 grid for many years was the excessive cost of participation.

[fclen]

I can see why Ferrari have been put in as an automatic entry (their disputed concorde extension), but why have they done the same with the Red Bull and Toro Rosso teams?

[JoostLamers]

They also signed a contract with the FIA, that's why

[Haukinen]

FIA made also a ''backup list'', if those 5 teams don't join.
That means, that Superfund, Team Lotus, Lola and Prodrive are in.

But hopefully this won't happen