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", designated 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 throughout the world on purpose-built circuits and public roads. The results of each race are evaluated using a points system to determine two annual World Championships, one for the driversand one for the constructors. The racing drivers, constructor teams, track officials, organisers, and circuits are required to be holders of valid Super Licences, the highest class of racing licence issued by the FIA. 

The next Grand Prix Formula 1 will be held in Sochi on 12 of October 2014. Last it was in Russia 100 years ago before the Revolution. The contract for the Grand Prix in Sochi signed until 2020, with the possibility of extension. Together with the "adult" race Sochi Formula One will host youth GP3 and GP2 Series Grand Prix of Russia.The race track will be located in Olympic Park. According to the plans of  the organizers of the Winter Olympic Games 2014 the stadium will be included in the circuit race track. It can accommodate 40 000 spectators and is a short walk from the Olympic Village. There also will be held the World Cup of soccer matches in 2018. The stadium is designed so, that it can be used for the Olympic games and then replaced for the need of Formula1. Probably, the track will be named in honour of the first cosmonaut Yuri Gagarin. 

The track itself hasa total length 5670 mwith 11-right-turns and 5 left turns, the participants will drive a clockwise route.Trackwidth is about 13 m.At different sections width varies from 13 m wide at its narrowest point to 15 m on the straight sectionof the start / finish line. High-speed turns, straight to accelerate and service zoneprovides high horizontal load and make overloading for racing cars and drivers.Straight section of the start / finish line between the pit box and the mainplatform opens breathtaking views for spectators. Straight section between 1 and 2 turns has a total length of 650 m and allows to accelerate maximum speed to 321 km/H. This maximum speed is a result of acceleration at a common location to set the speed with length 38 m, which begins after the last 16th turn. Third turn, which is made in letter "omega" form, can accelerate the speed to  305 km/h, this is a very serious test for the drivers, which requires excellent driving skills and it will become a very exciting show for the spectators. High-speed combinations of right and left turns № 9 and № 10,will reach speeds of up to 314  km/h and 10 turning - up to 109 km/h, experiencinghigh brake overload.

The president of Formula 1B. Ecclestone expects that it will be a fantastic track. Justifying his expectations, there was a test-drive of the track on 23 of September 2013 on the already finished part of the track with three bends.

For maintenance of Formula 1 there will be also:

1. The building of pit-stops "PIT BUILDING"

2. Building for the teams "TEAM BUILDING".

3. Medical center "FIRST AID" 

 
There was also a wonderful competition in November 2012 to create the logo of Grand Prix Formula 1 in Sochi. According to the contest, the logo had to be "emotionally filled, display activity of JSC "Formula Sochi" but it does not have to cause the direct associations with them."More than 800 variants of logo were sent. Russian Matreshka became the winner of this competition. 

Tickets for the Formula 1 in Sochi will be sold from May 2014. About 40 thousand tickets will go on the sale, tickets on Formula 1 in Sochi will cost from 15-20 dollars (about 500 rubles).