Auto Racing Championship - The cars all run to the same specification with the only variable being the body style and also have a lot more power than grip which ensures exciting racing. Formula One is, by any measure, the most expensive sport in the world, with some teams spending in excess of $400 million per year. Formula One is widely considered to be the pinnacle of motorsports, with the F1 Drivers' Championship being one of, and the oldest among, only three World Championships awarded each year by the FIA (the others being the World Touring Car Championship and the World Rally Championship). What separates Formula 1 from all other forms of open wheel racing, is the basic premise of F1 revolves around the very important issue that each team is a "constructor".