Why is Formula 1 called Formula 1?

The word formula in the name refers to the set of rules all the participating vehicles must follow.

The highest class of open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l’Automobile (FIA) can participate in Formula One, better known as Formula 1 or F1.

The FIA Formula One World Championship has been one of the premier forms of racing in the world since its launch back in 1950.

A series of races make up a Formula One season, known as Grands Prix, which takes place in multiple countries and continents on closed public roads or circuits.

The highest speed of an F1 car is around 233 mph (375 kmph), however, this top speed can only be achieved on long straight-line runs by the fastest vehicles. On a regular circuit, these cars reach an average speed of up to 200 mph (322 kmph).

A point system is utilized to decide two annual World Championships: one for drivers, and the other for constructors (the teams).

Each driver must hold a valid super license, the highest class of racing licenses issued by the FIA. The races must be held on grade-one tracks, as well as the highest-graded tracks issued by the FIA.

Liberty Media bought The Formula One Group from private equity firm CVC Capital Partners for $8 billion in 2017.