In January, grand prix racing’s commercial rights holder, Formula One Management, rejected the America squad’s bid to join the F1 grid next season, despite the championship’s regulator, the FIA, approving its technical capabilities last October.
A statement from FOM read: “Our assessment process has established that the presence of an 11th team would not, on its own, provide value to the championship. The most significant way in which a new entrant would bring value is by being competitive. We do not believe that the applicant would be a competitive participant.”
