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Out of 19 races in 2011 (excluding the Bahraini GP), nine are outside of Europe. And most recently is the 22nd racetrack – Viet Nam F1 Grand Prix.Formula 1 is a major TV event, with millions of people watching each race around the world. Also being the most expensive sport in the world, its economic effects are obvious. Financial and political battles took place in many places. An average of about 55 million people worldwide follow Formula 1 races directly. The sport’s history and popularity make it an undeniable business environment. This leads to a “huge” investment in sponsors, which translates into a huge budget for racing teams.Some teams went bankrupt or sold to another company since 2000. The most recent example of this is that the Super Aguri team was denied participation in the Spanish Grand Prix and was subsequently disbanded because lack of funds after a failed funding attempt.
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This sport is administered by the FIA. Commercial rights in Formula 1 are owned by Formula 1 Group.The Formula 1 race series has its roots in the Grand Prix (MotoGP) tournament of the 1920s and 1930s. The “Formula” is a set of rules that all participating drivers and vehicles must adhere to. The Formula 1 Prize was approved only after World War II in 1946. With the first championship-excluded race held that year.Several Grand Prix racing organizations have established World Championship rules before the war. But delayed by war, the Tournament did not become an official tournament until 1947. The first world championship race was held in Silverstone, England in 1950. A racing team championship. followed suit in 1958. National championships were held in South Africa and Great Britain in the 1960s and 1970s. Formula 1 races do not count championships that have been held for many years but due to The cost of the race was getting higher and higher, so it was stopped in 1983.
