Formula 1, also known as F1, is the highest class of international auto racing for single-seater, open-wheel formula racing cars. The Federation Internationale de l'Automobile (FIA) sanctions it, and the Formula One Group manages it. Its roots trace back to the European Grand Prix championships of the 1920s and 1930s. The modern Formula 1 began in 1946, with the FIA standardizing rules, followed by the first World Championship of Drivers in 1950. The Formula One Group, formerly known as the Formula One Constructors Association, was founded in 1974. The group is now run by Stefano Domenicali as president and CEO. Chase Carey is the non-executive chairman.
Formula 1's commercial rights are controlled by Formula One World Championship Limited. Liberty Media acquired the Formula One Group in 2017 for $4.4 billion. In 2024, Formula 1 reported USD 3.65 billion in annual revenue. The sport's popularity has grown, particularly in the U.S., thanks in part to the Netflix series "Drive to Survive". The 2026 FIA Formula One World Championship spans from March to December, with 24 races in 21 countries across five continents. Lando Norris (McLaren) won the 2025 Drivers' Championship. McLaren Mastercard Formula 1 won the 2025 Constructors' Championship.
