Formula One In Austin, Texas.
Formula One, also known as Formula 1 or F1, is the highest class of single-seater auto racing. Formula 1 is sanctioned by FÃ©dÃ©ration Internationale de l'Atomobile (FIA) and derives its name from the set of rules, which all participants must know and observe.
These races began in 1906 and became internationally famous - becoming the most popular type of racing - in the late 20th century. The season consists of a series of races (known as Grands Prix) and is held throughout the world. Cities specifically build circuits and designate public roads in order for these races to play out.
Each race is evaluated on a point scale to determine two annual World Championships - one for drivers and one for constructors. The racing drivers, constructor teams, track officials, organizers, and circuits are required to obtain a Super License. This license is the highest class of racing license issued by the FIA.
The cars themselves are the fastest multi-turn circuit racing cars in the worlds. The Formula 1 cars can obtain speeds of up to 220 miles per hour (MPH) and a maximum of 18,000 revolutions per minute (RPM).
Although the races begin in mid to late March, Austin will be hosting Formula 1 from 15-17 of November. These races lead to an annual spending of billions of US dollars, creates jobs, results in great investments from sponsors, and budgets in the hundreds of millions for constructors.
Last year's Grand Prix race in Austin was rated the second-highest attendance for a Grand Prix race last year, topping out at 117,429 onlookers on November 18, 2012. More than 265,000 people overall attended the event over the three days.
Tickets for the Grand Prix in Austin will go on sale starting March 21, 2013. Last year's event was monopolized by corporations. To get tickets this year - other than to participate in a corporate party - one can expect to pay upward of $169 per person for a three-day pass.