Get this widget!Formula One, abbreviated to F1, and also known as Grand Prix racing, is the highest class of auto racing defined by the Fedaration racing Internationale de l'Automobile (FIA), motor sport's world governing body. The "formula" in the name is a set of rules which all participants and cars must meet. The F1 world championship season consists of a series of races, known as Grands Prix, held usually on purpose-built circuits, and in a few cases ..d city streets. The results of each race are combined to determine two annual World Championships, one for drivers and one for constructors. It is a massive television event with millions of people watching each race in more than 200 countries. The cars race at high speeds, often well above 300 km/h (around 190 mph). Future of Formula One Main article: Future of Formula One See also: 2007 Formula One season and 2008 Formula One season Formula One went through a difficult period in the early 2000s. Viewing figures dropped, and fans expressed their loss of interest due to the dominance of Michael Schumacher and Ferrari.The FIA has also been tasked with the responsibility of making rules to combat the spiralling costs which affect the smaller teams and to ensure that the sport remains as safe as possible.To this end, the FIA has in recent years instituted a number of rule changes, including new tyre restrictions, multi-race engines, and reductions on downforce. Safety and cost are paramount in all rule-change discussions, and the FIA has made public its intention to continue to modify the rules with these goals in mind.Over the coming years, more radical changes will be made to the rules. In October 2005, the FIA proposal of enhancing overtaking won the support of the teams by agreeing about the new rear wing concept that would eliminate the current single rear wing and replace it with two box-like wings, one behind each rear wheel. These changes are due in 2007.[10] In the long run, the FIA intends to introduce greater restrictions on testing and the introduction of standardised electronic units and tyres.In the interest of making the sport truer to its designation as a World Championship, FOM president Bernie Ecclestone has initiated and organized a number of Grands Prix in new countries and continues to discuss new future races. The sport's rapid expansion into new areas of the globe also leaves some question as to which races will be cut.Viewing figures are seeing some signs of recovery due to the varied 2005 season. Ferrari's dominance ended in 2005 as Renault and McLaren-Mercedes became the top two teams in Formula 1, with Fernando Alonso becoming the new World Champion. There has since been a resurgence of interest in the sport and 22 teams applied for the final 12th team spots available for the 2008 season (eventually awarded to
All 11 F1 Teams
