The Formula One Constructors' Association (FOCA) was founded in 1974 to increase commercial organisation of Formula One for the benefit of the racing teams. In 1978, Bernie Ecclestone became the executive of FOCA and fought the Fédération Internationale du Sport Automobile (FISA) for control of the commercial rights of Formula One. The dispute between FOCA and FISA was settled in March 1981 when the Concorde Agreement gave FOCA the right to negotiate television contracts.
When the second Concorde Agreement was agreed in 1987, Ecclestone ceased being a team owner and established Formula One Promotions and Administration (FOPA) to manage television rights for the teams. FOPA, which later became known as Formula One Management (FOM), received 49% of television revenues, while 50% went to the FIA and 1% went to the teams. FOPA also received all fees paid by promoters and paid prize money to the teams.
In 1995, the fourth Concorde Agreement saw the FIA grant the commercial rights of Formula One to Formula One Administration (managed by FOM) for a 14-year period in exchange for an annual payment from Ecclestone. This arrangement faced resistance in 1997 when teams including McLaren, Williams, and Tyrrell rejected the following Concorde Agreement because FOM held exclusive rights to their team names. A compromise was reached and a new agreement was signed by all teams in 1998.
The late 1990s and early 2000s saw significant shifts in ownership. In 1999, the European Commission investigated the FIA and Formula One Administration for abusing a dominant position and restricting competition. The German media company EM.TV purchased a 50% stake in SLEC Holdings for £1.1 billion in 2000. Following financial difficulties at EM.TV, the Kirch Group took control of the holding. Kirch borrowed €1.6 billion from banks including Bayerische Landesbank (BayernLB), Lehman Brothers, and JPMorgan Chase to increase its share of SLEC to 75%.
In November 2005, CVC Capital Partners announced it would acquire the shares of Bambino and BayernLB in SLEC, later acquiring the shares of JPMorgan Chase and Lehman Brothers to reach a 63.4% majority ownership in the Formula One Group. In 2017, Liberty Media completed its acquisition of the Formula One Group. Chase Carey became the chief executive, succeeding Ecclestone.
The Formula One Group comprises several subsidiary companies, including Formula One World Championship Limited (FOWC), which controls the commercial rights of Formula One, and Formula One Management (FOM), which manages the broadcasting, organisation, and promotional rights of Formula One. The group also owns the rights to the "GP1" name and operates various feeder series through Formula Motorsport Limited. In 2025, Liberty Media placed the commercial rights of MotoGP and the Superbike World Championship into the Formula One Group following its acquisition of a majority of Dorna Sports.
The Formula One Group is also involved in trackside advertising and corporate hospitality through Allsport Management, which was acquired by CVC in 2006. The group's financial operations, including payments to teams, are determined by the Concorde Agreement.