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Formula 1, officially FIA Formula 1 World Championship is the highest single-seater motorsport class
An F1 season consists of a number of Grand Prixs (translated to English: Big Prizes) held on circuits and even on public roads. These results determine the result of two World Championships, one for the drivers and for the constructors. All the drivers taking in Formula One need to be in possesion of a valid Super Licence, a special licence issued by the FIA. Formula One cars at high speeds of about 360 km/h with engines whose performance is limited to 18,000 rpm. Although traction control is banned, electronics, aerodynamics, suspension and tyres are the main points on which depends a Formula One car prerformance. All the teams are based in Europe, especially England. About half of the Grand Prix are hold on this continent.
Formula One is a massive television event with an aggregate of 600 million watchers at every race. The Formula One Group is the legal holder of Formula One. Since 2000, Formula One is seeing a trend of teams going bankrupt (e.g. Toyota), teams which don't actually begin a season (e.g. US F1 Team) and teams which are sold to someone else (e.g. HRT F1 Team & Sauber F1 Team). These buyouts are also influenced by the FIA, because it limits the number of participant teams.
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