Formula One (also known as Formula 1 or F1) is the highest class of international

auto racing for single-seater racing cars sanctioned by the Fédération

Internationale de l'Automobile (FIA). The World Drivers' Championship, which became
the FIA Formula One World Championship in 1981, has been one of the premier forms
of racing around the world since its inaugural season in 1950. The word formula in
the name refers to the set of rules to which all participants' cars must conform.
[1] A Formula One season consists of a series of races, known as Grands Prix
(French for 'grand prizes' or 'great prizes'), which take place worldwide on
purpose-built circuits and on closed public roads.
The start of 2018 Austrian Grand Prix

The results of each race are evaluated using a points system to determine two
annual World Championships: one for drivers, the other for constructors. Each
driver must hold a valid Super Licence, the highest class of racing licence issued
by the FIA.[2] The races must run on tracks graded "1" (formerly "A"), the highest
grade-rating issued by the FIA.[2] Most events occur in rural locations on purpose-
built tracks, but several events take place on city streets.

Formula One cars are the fastest regulated road-course racing cars in the world,
owing to very high cornering speeds achieved through the generation of large
amounts of aerodynamic downforce. The cars underwent major changes in 2017,[3]
allowing wider front and rear wings, and wider tyres, resulting in peak cornering
forces near 6.5 lateral g and top speeds of up to approximately 360 km/h (225 mph).
[4][5] As of 2019 the hybrid engines are limited in performance to a maximum of
15,000 rpm; the cars are very dependent on electronics and aerodynamics, suspension
and tyres. Traction control and other driving aids have been banned since 2008.[6]

While Europe is the sport's traditional base, the championship operates globally,
with 11 of the 21 races in the 2019 season taking place outside Europe. With the
annual cost of running a mid-tier team—designing, building, and maintaining cars,
pay, transport—being US$120 million,[7] its financial and political battles are
widely reported. Its high profile and popularity have created a major merchandising
environment, which has resulted in large investments from sponsors and budgets (in
the hundreds of millions for the constructors). On 23 January 2017 Liberty Media
confirmed the completion of the acquisition of Delta Topco, the company that
controls Formula One, from private-equity firm CVC Capital Partners for $8 billion.
[8][9]