Mohammed Ben Sulayem has announced that the FIA will aim to open a search for parties interested in joining the F1 grid, which could lead to up to three teams joining.
The FIA President took to Twitter to reveal that the organisation will launch an "expressions of interest process" to determine any interest in adding to the ten existing Formula 1 teams.
An 'expression of interest' process would be the first step in determining which teams, organisations or businesses have a genuine interest in setting up a Formula 1 team.
On Twitter, Mohammed Ben Sulayem wrote: "I have asked my FIA team to look at launching an Expressions of Interest process for prospective new teams for the FIA F1 World Championship."
Formula 1 teams have broadly been resistant to the idea of adding another team to the grid, with many likely to be resistant to prize money dilution.
A hefty fee of $200million would await any successful applicant, with the money going direct to the teams to protect against the prospect of reduced prize money.
The American Andretti team have frequently and publicly discussed a desire to join Formula 1, and have frequently reiterated that the funds exist for them to enter and compete.
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Prospective teams gearing towards 2026
Any successful application for a new F1 team is likely to be a lengthy process, with the FIA wanting to establish the credibility of the interested parties primarily from a financial and technical standpoint.
With the rise in popularity of the sport in recent seasons, it is likely that interest will come from more than just the Andretti team.
The F1 grid current has ten teams, but current regulations allow for up to three more teams to join the sport.
One of the aspiring teams aiming for a space on the grid is Panthera, who revealed exclusively to RacingNews365.com that they will be expressing their interest to the FIA.
Panthera Team Principal Benjamin Durand commented, "We welcome the FIA's initiative, but now we need to know exactly what the requirements are, and also exactly how the process will be run, but we are ready to express our interest in Formula 1."
With six power unit suppliers now registering their interest to be a part of the new rules cycle, which begins in 2026, the prospect of having more engine suppliers available is likely to appeal to new teams.
Formula 1 themselves would only become involved once teams have passed the 'expression of interest' process and move to the next step.
Video: How expensive is champagne in F1?
Although champagne has not been exclusively used on the podium, with F1 recently moving back to using sparkling wine, it forms a key part of post-race celebrations.
But what are the origins of this world-famous tradition? And with so many litres of this luxury drink sprayed throughout the season, how much money does such a champagne shower actually cost?
Check out our handy explainer video below.