Formula 1 explained

The F1 championship is a professional racing competition that features open-wheel, single-seater racing cars. It is the highest class of competition for single-seat racing cars in the world and is considered the pinnacle of motorsports. The championship is organized by the Fédération Internationale de l'Automobile (FIA), the governing body for motorsports worldwide.

F1 concept

The F1 Championship has been held annually since 1950. The championship consists of a series of races on the calendar known as the grand prix, which are held at circuits around the world. Each Grand Prix event is held over a weekend, with practice and qualifying sessions held on Friday and Saturday, followed by the race on Sunday.

The championship is contested by teams of drivers and constructors, with each team comprising two drivers who compete for points in both the drivers' championship and the constructors' championship. Points are awarded to the top finishers in each race, with the driver who earns the most points throughout the season crowned as the world champion.

The drivers

The drivers are the key element of Formula 1. They are the face of the sport and what fans get excited about.

Several key characteristics are important for a driver to succeed in the highly competitive world of Formula 1. These characteristics include:

• Natural talent: Formula 1 is a highly technical and demanding sport, and drivers need to have a natural feel for a racing car and excellent car control to succeed. Drivers with a natural talent for driving are able to extract the most from their cars and consistently deliver strong performances.
• Mental toughness: Formula 1 is a high-pressure environment, and drivers need to be able to stay cool under pressure and maintain their focus in order to succeed. Drivers with strong mental toughness are able to deliver strong performances even in the most challenging circumstances.
• Intelligence and analytical ability: Formula 1 involves a lot of strategy and decision-making, and drivers need to be able to quickly analyze situations and make intelligent decisions on the track. Drivers who are intelligent and analytical are able to adapt to new situations and make the best decisions in order to succeed. And in addition, understand the highly complex cars and data to help develop the car performance faster.

Overall, these characteristics are key for any driver to succeed in Formula 1 and are essential for achieving success at the highest level of the sport.

The constructors

One of the trademarks of F1 is that every constructor has to design and build their own car based on the rules and regulations of the sport. With a focus on cost-cutting, some elements of the car can now be sold to other teams. These are called non-listed items (vs listed items that the team has to design) like for instance the gearbox and suspensions.
In addition, there are also standard components, which are the same for every team like for instance the tyres, wheel rims, rear lights and cameras mounted on the cars.

In terms of the engines, constructors can decide to build their own or purchase one from an engine-supplier (that itself doesn't have to be a constructor, but typically is). For the best synergy between the car, the chassis and the engine it is best, and most expensive, to build all within the same team. The most succesful teams like Ferrari, Mercedes and to a lesser extent Red Bull have taken this route, or made sure they are the prime team for an engine supplier.

Commercials

The commercial rights of the Formula were bought by Liberty Global in 2017. Liberty Global is a multinational telecommunications company with a strong media arm. Since that time significant efforts have been made to open up and popularize the sport, embrace digital channels and social media, focus on growth markets with dedicated GP and streaming F1 on their own platform in order to reach broader audiences. The popular 'Drive to survive'-series from Netflix is a good example. This is contrary to how Bernie Ecclestone used to run F1 with a strong focus on restriction and control.
Another recent change is the cost cap. A budget cap is seen in many other major sports. To reduce the massive budgets of the bigger teams, level the playing field and allow for new constructors to enter the sport with a shot at being competitive.

Over the years, the F1 Championship has grown in popularity and has become one of the most watched and followed sporting events in the world. It has also been a proving ground for some of the greatest drivers in history, including Juan Manual Fangio, Alain Prost, Ayrton Senna, Michael Schumacher, Lewis Hamilton and Max Verstappen.