Formula One World Drivers' Championship was not formalised until 1947. The first world championship race was held at Silverstone, United Kingdom in 1950. A championship for constructors followed in 1958. National championships existed in South Africa and the UK in the 1960s and 1970s. Non-championship Formula One events were held for many years, but due to the increasing cost of competition, the last of these occurred in 1983. On 26 November 2017, Formula One unveiled its new logo, following the 2017 season finale in Abu Dhabi during the Abu Dhabi Grand Prix at Yas Marina Circuit. The new logo replaced F1's iconic
Yas Marina Circuit theme park, a water park, as well as residential areas, hotels and beaches. The circuit has five grandstand areas (Main Grandstand, West Grandstand, North Grandstand, South Grandstand and Marina Grandstand (aka Support)) and part of its pit lane exit runs underneath the track. It also houses a team building behind the pit building, Media Center, Dragster Track, VIP Tower and Ferrari World Theme Park. Additionally, one of the run-off areas runs underneath the West grandstand. The circuit was built by main contractor Cebarco-WCT WLL, under contract from developer Aldar Properties. Among the sub-contractors involved were KOH AH HING from Malaysia