First you must pick a team name. Anyone who submits a nameless team will not only be allocated a name by me but will score no points for the first race.
You have a total budget of £24million to choose a team comprising of the following:
2 x Drivers
1 x Constructor/Chassis
1 x Engine
Each driver, constructor and engine is given a value based on previous performances and their potential for success during the 2011 season (i.e. the most expensive drivers, cars and engines will be those predicted to be the most successful).
There are no points for coming in under budget.
Deadline for submitting teams is Friday 25 March 2011. Different teams can be made up of identical drivers and constructors but must have a different home track (see 2.4). If you submit a team and home track that has already been chosen you will be invited to pick again (the bonus of submitting early is to get the team you wish).
In the event that a constructor withdraws from the 2011 championship, any FF1 team with their chassis or engine will not be reallocated to a different constructor and will score no more points for that chassis/engine. If a constructor is bought out (even after a withdrawal or break from competing) then any FF1 team with that chassis/engine will receive the points scored by the new constructor. A driver picked by for FF1 team will score points for the team/constructor they drive for or no points if they are not competing, i.e. if they are dropped or their constructor withdraws from the championship.
Only one team may be submitted per human being.
Submission is by email to email@example.com
To make the league "more interesting", entry is £10, which will be put into a prize money pot. If fewer than twenty teams are entered, the winner will win 60% of the prize, 2nd place 30% and 3rd place 10%. If twenty or more teams are enter then the winner will receive 40%, 2nd place 30%, 3rd place 15%, 4th place 10% and 5th place 5%.