No worthy bids from new teams to enter F1 - Todt

FIA President Jean Todt says the governing body has not received a single bid from prospective F1 teams worthy of consideration.

Todt revealed that while several groups expressed interest in entering the sport, potential offers were not taken seriously by the FIA, which therefore did not feel compelled to open a tender process for an eleventh F1 team.

"When we see there is a serious offer, as we did when Haas came to Formula 1, we understood there was some serious interest so we created a tender," said Todt.

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"At the moment, we have ten teams competing in F1, we have a good championship. The maximum number of teams we would accept is 12 so I'm happy to listen to any good proposals.

"We are working to have an even better championship, but the agreements we have is for a maximum for 12 teams."

The Haas F1 Team was indeed the last outfit to enter Grand Prix racing.

As F1 continues to shape its future direction under sporting manager Ross Brawn's guidance, with an emphasis on less sophisticated technology and cost reduction, it's unlikely any new contenders - either manufacture or independent entries - will join the grid until a clear regulation platform is defined for 2021.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.