The first Formula 1 race was the 1946 Turin Grand Prix. Formula One was a new formula agreed upon during 1946 with the first non-championship races taking place that year. The formula consists of a set of rules that all participants' cars must meet. The Formula One series originated with the European Championship of Grand Prix motor racing of the 1920s and 1930s. On 23 January 2017, Liberty Media completed its acquisition of the Formula One Group, from private-equity firm CVC Capital Partners for $8 billion. With the average annual cost of running a team – designing, building, and maintaining cars, pay, transport – being approximately US$265 million, its financial and political battles are widely reported. They were briefly reintroduced in 2001, and have more recently been banned since 20, respectively.
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Traction control, launch control, and automatic shifting, plus other electronic driving aids, were first banned in 1994. The cars are dependent on electronics and aerodynamics, suspension and tyres. Major changes to the cars for the 2022 season has seen greater use of ground effect aerodynamics, and modified wings to reduce the turbulence behind the cars, with the goal of making overtaking easier. The turbulence reduces the downforce generated by a car following directly behind, making it hard to overtake. Much of this downforce is generated by front and rear wings, which have the side effect of causing severe turbulence behind each car. įormula 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 races must run on tracks graded "1" (formerly "A"), the highest grade-rating issued by the FIA.
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Each driver must hold a valid Super Licence, the highest class of racing licence issued by the FIA. A Formula One season consists of a series of races, known as Grands Prix, which take place worldwide on both purpose-built circuits and closed public roads.Ī points system is used at Grands Prix to determine two annual World Championships: one for drivers, the other for constructors. The word formula in the name refers to the set of rules to which all participants' cars must conform. 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. Formula One (also 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).
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