.svg) Formula One logo since 2018 | |
| Category | Open-wheel single-seater Formula auto racing |
|---|---|
| Country | International |
| Inaugural season | 1950 |
| Drivers | 20 |
| Teams | 10 |
| Chassis manufacturers | 10 |
| Engine manufacturers | |
| Tyre suppliers | Pirelli |
| Drivers' champion |  Max Verstappen(Red Bull Racing-Honda RBPT) |
| Constructors' champion |  Red Bull Racing-Honda RBPT |
| Official website | www |
 Current season | |
| Formula One |
|---|
Formula One, commonly known as Formula 1 or F1, is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The FIA Formula One World Championship has been one of the world's premier forms of racing since its inaugural running in 1950. The word formula in the name refers to the set of rules all participants' cars must follow. A Formula One season consists of a series of races, known as Grands Prix. Grands Prix take place in multiple countries and continents on either purpose-built circuits or closed roads.
A point-system is used at Grands Prix to determine two annual World Championships: one for the drivers, and one for the constructors (the teams). Each driver must hold a valid Super Licence, the highest class of racing licence the FIA issues, and the races must be held on grade one tracks, the highest grade rating the FIA issues for tracks.
Formula One cars are the world's fastest regulated road-course racing cars, owing to very high cornering speeds achieved by generating large amounts of aerodynamic downforce, much of which is generated by front and rear wings. The cars depend on electronics, aerodynamics, suspension, and tyres. Traction control, launch control, and automatic shifting, and other electronic driving aids were first banned in 1994. They were briefly reintroduced in 2001, and have more recently been banned since 2004 and 2008, respectively.[1]
With the average annual cost of running a team—designing, building, and maintaining cars, pay, transport—at approximately £220,000,000 (or $265,000,000),[2] Formula One's financial and political battles are widely reported. The Formula One Group is owned by Liberty Media, which acquired it in 2017 from private-equity firm CVC Capital Partners for £6.4 billion ($8 billion).[3][4]
- ^ "F1 bans traction control for 2008". BBC Sport. BBC Sport. 30 March 2007. Archived from the original on 3 January 2020. Retrieved 3 January 2020.
- ^ Sylt, Christian (20 April 2020). "Formula One budget cuts are expected to crash 1,600 jobs". Daily Telegraph. Archived from the original on 14 June 2022. Retrieved 14 June 2022.
- ^ "Bernie Ecclestone removed as Liberty Media completes $8bn takeover". BBC Sport. 23 January 2017. Archived from the original on 26 February 2020. Retrieved 23 January 2017.
Bernie Ecclestone has been removed from his position running Formula 1 as US giant Liberty Media completed its $8bn (£6.4bn) takeover of the sport.
- ^ "Liberty Media Corporation Completes Acquisition of Formula 1". Liberty Media Corporation. Archived from the original on 12 December 2019. Retrieved 7 December 2018.