Formula One, abbreviated to F1, and also known as
Grand Prix racing, is the highest class of single-seat
open-wheel
formula
auto racing. The "formula" in the name is a set of rules which all
participants and cars must meet. The F1 season consists of a series of
races, known as
Grands Prix, held in most cases on purpose-built
circuits, and in a few cases on closed city streets. The results of
each race combined determine two annual
World Championships, one for
drivers and one for
constructors. The cars race at speeds often in excess of 300 km/h
(187 mph). The formula introduces a number of restrictions and
specifications that cars must meet, designed, amongst other things, to
keep the always growing cornering speeds in safe ranges. For 2006
engines were reduced to
normally-aspirated V8s with a
displacement (capacity) of 2.4 litres (providing around 750
bhp (559
kw)
at nearly 20,000
rpm). The performance of the cars is highly dependant on
electronics,
aerodynamics,
suspension and
tyres.
The formula has seen many evolutions and changes through the history of
the sport. There have been many different types of engines;
normally aspirated,
supercharged and
turbocharged, ranging from
straight-4 to
H16,
with displacements from 1.5 litres to 4.5 litres. The maximum power
achieved in the history of the series was around 1200 bhp, during the
1980s
turbo era.
Europe
is Formula One's traditional centre and remains its leading market;
however, Grands Prix have been held all over the world, and with new
races in
Bahrain,
China,
Malaysia and
Turkey
since 1999, its scope is continually expanding. As the world's most
expensive
sport, its economic impact is significant, and its financial and
political battles are widely observed. Its high profile and popularity
makes it an obvious merchandising environment which leads to very high
investments from sponsors translating into extremely high monetary
budgets for the
constructor teams, however, in recent years several teams have gone
bankrupt.
The sport is regulated by the
Fédération Internationale de l'Automobile, with its headquarters in
Place de la Concorde,
Paris.
Its President is
Max
Mosley. Formula One's commercial rights are vested in the
Formula One Group, now owned by
Alpha Prema. Although now a minority shareholder, the sport is still
generally promoted and controlled by
Bernie Ecclestone.
