Prestige of Formula One Championship

Thinking of buying a race car? It’s a super expansive hobby to maintain a race car. Learn more what stands behind Formula One.

Formula One that is officially called FIA Formula One World Championship is a motor racing organized by FIA – International Automobile Federation. FIA has commercial rights to it, and Bernie Ecclestone from Great Britain leases these rights. Only pure racing cars “formula” can participate in races. They are single seaters with open wheels – the format that differs radically from the format of usual road cars.

Formula One can be called a pinnacle of motorsport. The best racers, designers, technical experts, engineers of the world participate in it. It is more than competition of sportsmen: the rivalry between technical achievements takes place there as well.

The racing drivers should hold valid Super License. The same requirement is referred to a range of specialists that are involved into auto racing.

One season of Formula 1 includes races called Grands Prix that are conducted throughout the world on circuits that are specially built for that and on public roads as well. The points system is used to evaluate the results of Grand Prix. The World Championship is arranged for the drivers and for the constructors on an annual basis. The cars race at speed 350 km per hour. Performance of engines at that should not be higher than 15000 RPM.

As a rule about half of all racers are arranged in Europe but Grand Prix can be held on other continents as well. This is one of the most prestigious sports events with global television audience that reached 527 million people in 2010.

F1 drivers usually have to retire before they reach 40 years of age. However, they can continue their careers in not so demanding disciplines, such as German tour championship DTM. Alternatively, they can move to NASCAR, IndyCar and etc. Others become team owners, commentators and so on.

Billions of US dollars are spent on Grand Prix annually so the F1 affects the economy too, creating jobs for many people. It should be added that technical and financial battles are widely discussed in mass media and this merchandising environment contributes to more investments. The budgets grow, the competition increases, many companies try to establish a presence in sport in this way as this is prestigious and profitable. The selection of participant teams is very strict as their number is limited. Formula One is a part of big business.

The qualifying system of Formula One features knock-out system on sessions in which the participants try to achieve the fastest time. There are three rounds in each period. Q1 is the first session that continues for 18 minutes, after which 16 participants remain. Q2 is the second session that lasts for 15 minutes and determines 10 fastest participants. The first ten grid positions are obtained as a result of the third session Q3. The times are reset for each period and the fastest time in each period is regarded. A chequered flag signals the end of the period.

The visitors of Formula One are amused from morning to night. The event should be organized at the place with developed infrastructure. Many countries of the world dream of hosting World Championship Grands Prix just in the same way they wish to host such prestigious sports events as football World Cup final and Olympic Games. Along with prestige, the influx of Grand Prix personnel considerably improves the economy of the region. It is rather hard and expensive to host the Grand Prix Formula One races. The country should ensure the track built in accordance with strictest requirements, appropriate pit garages for teams of participants and large paddock, where the teams can place trucks, motorhomes. The participation in the event is also expensive. The country holding it should pay 30 million dollars or even more for this opportunity.