Formula One, also known as Formula 1 or F1 and referred to officially as the FIA Formula One World Championship,is the highest class of single seater auto racing sanctioned by the Fédération Internationale de l'Automobile (FIA). The "formula" in the name refers to a set of rules with which all participants' cars must comply. The F1 season consists of a series of races, known as Grands Prix, held on purpose-built circuits and public roads.