FIA wants new Formula 1 team for 2015 or '16



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PARIS (AP) - Formula One's governing body wants another team on the starting grid from 2015 or `16.

The FIA says it has launched a selection process to add a new team for the first time since HRT exited the sport last year.

FIA says interested candidates have until Jan. 3 to submit their formal expression of interest plus a non-refundable $5,000 deposit.

Full applications should be submitted by Feb. 10, with a decision expected by Feb. 28.

FIA says "the long-term interests of the championship will determine which candidates are selected." FIA will guarantee a spot for the new team until at least 2020.

HRT, formerly Hispania, had entered F1 in 2010 alongside the teams now known as Marussia and Caterham.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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