Formula One Management (FOM) is the organization responsible for the commercial rights and overall management of the Formula One racing series. Established in 1981, FOM oversees the promotion, marketing, and broadcasting of the races, ensuring that the sport reaches a global audience. FOM also plays a crucial role in the financial aspects of Formula One, negotiating contracts with teams, sponsors, and broadcasters. This organization works closely with the Fédération Internationale de l'Automobile (FIA), which governs the sport, to maintain the integrity and competitiveness of the racing series.