The Formula One Group, a subsidiary of Liberty Media Corporation, plays a central role in the motorsports business, both in the United States and internationally. It holds the commercial rights to the FIA Formula One World Championship, a prestigious global motorsport competition that began in 1950. This championship is notable for its long duration, typically running for about nine months each year, during which teams and drivers compete for the Constructors' and Drivers' Championships respectively. Apart from managing the primary F1 races, the Formula One Group also operates the Formula 1 Paddock Club, a hospitality service that caters to F1 teams and other stakeholders. Additionally, it handles logistical and travel-related services for these teams and manages the lower-tier F2 and F3 race series.