Formula one

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 series is owned by Liberty Media, an American mass media company controlled by its founder and chairman John C. Malone, through its wholly owned subsidiary, the Formula One Group. 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.