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Formula One cars race at high speeds, up to 360 km/h (223.7 mph) with engines revving up to a formula imposed limit of 18,000 rpm. The cars are capable of pulling in excess of 5 g on some corners. The performance of the cars is highly dependent on electronics (although traction control and driving aids have been banned since 2008), aerodynamics, suspension, and tyres. The formula has seen many evolutions and changes through the history of the sport. Europe is Formula One's traditional centre, where all of the teams are based, and where around half of the races take place. However, the sport's scope has expanded significantly in recent years and Grands Prix are held all over the world. Formula One is a massive television event, with an aggregate global audience of 600 million people for each race. The Formula One Group is the legal holder of the commercial rights. With annual spending totalling billions of US dollars, Formula One's economic effect is significant, and its financial and political battles are widely covered. Its high profile and popularity make it an obvious merchandising environment, which leads to very high investments from sponsors, translating into extremely high budgets for the constructors. However, mostly since 2000, due to the always increasing expenditures, several teams, including works teams from car makers and those teams with minimal support from the automotive industry, have gone bankrupt or been bought out by companies wanting to establish a team within the sport; these buyouts are also influenced by Formula One limiting the number of participant teams. |
