FIA Formula One World Championship is the highest level of competition for single-seating racing automobiles. Formula One (F1) is sanctioned by the Federation de l' Automobile (FIA) and the organization sponsors a series of international races under the heading of Grand Prix. These races are held primarily in Europe but they are also backed at international locations as well. There are a total of thirteen F1 teams that compete for awards and financial prizes. Grand Prix races takes place on specially designed tracks and modified public roads. Constructors are responsible for developing tracks and circuits which in turn attracts teams and their drivers to compete in certain venues. Also, racing teams can determine when and where Grand Prix's will be held.

F1 Grand Prix races are big business and they are capable of generating billions of dollars in television sponsorships, merchandising and from leasing out various constructed circuits. Audiences, industries and companies from all over the world support Grand Prix racing events. Many cities are willing to set aside a portion of their property for Grand Prix races because the organization is capable of bringing jobs into their communities and generating extra income for their treasuries, businesses and industries.

At the heart of the Grand Prix races are the teams and their drivers. Teams mainly generate income in one of two ways and that's from sponsorships and prize money. All thirteen Formula One racing teams are worth a combined 4.5 billion dollars and the average franchise is valued at $337 million dollars and is able to generate revenue of $145 million dollars. Sponsor investment is crucial to F1 teams since they receive most of their income from television and other media sponsors. Teams take about 7% of the total money that is brought in from all economic activity conducted from Formula 1 racing. Here is a list of the top 10 F1 teams from the year 2012 and their respective value.

Caterham

Counting down the list and coming in at number 10 is F1 team Caterham that represents the country of Malaysia. This particular F1 franchise is worth $105 million dollars and generates $87 million dollars annually. Caterham is based in the United Kingdom and the Caterham name is derived from a trading name which One Malaysia Racing Team Sdn Bhd. The team is currently owned by Tony Fernandes and the race drivers are Charles Pic and Gierdo van der Garde. Major sponsors for this organization include General Electric, EADS and Sibur.

Torro Rosso

Scuderia Torro Rosso is an Italian F1 racing team that is based in Faenza, Italy. The team is owned by the sports energy drink company, Red Bull. Torro Rosso is the abbreviated form of the team's name and the franchise is valued at $135 million dollars. Each year the organization brings in close to $80 million dollars in revenue. Race drivers include Jean-Eric Vergne and Daniel Ricciardo. Some of the companies that offer the most sponsorship for this team include CESPA and Falcon Private Bank.

Sauber

Hinwill, Zurich, Switzerland is home to the F1 racing team known as Sauber. This racing franchise is owned by Peter Sauber and Monisha Kaltenborn and is valued at $155 million. Sauber is able to generate $92 million dollars from competing in different races. Sauber's primary sponsors are Telmex, Claro and Chelsea FC. The race drivers for this team include Nico Hulkenberg and Esteban Gutierrez.

Force India

F1 team Force India is worth $225 million dollars and is capable of generating $107 million dollars in revenue. They are based in the U.K. within the parish of Silverstone, Northamptonshire though it represents the nation of India. Paul di Resta and Adrian Sutil are the team's drivers and Vijay Mallya is the owner. Sahara and United Breweries Groups are among the primary sponsors of this franchise.

Lotus

The United Kingdom is home to the Lotus F1 Team which is owned by Genii Capital. Sponsors for this organization include Lotus, Unilever and Embratel. The main drivers for this racing franchise include Kimi Raikkonen and Romain Grosjean. Lotus F1 Team is valued at $270 million and generates $150 million dollars revenue.

Williams

Williams F1 is another U.K. based racing organization and it is owned by Sir Frank Williams in 1967. The franchise is worth $290 million and makes about $153 million dollars in profits. Sponsors include PDVSA, Randstad and Head and Shoulders. Drivers for Williams F1 Team are Pastor Maldonado and Vaitteri Bottas.

Mercedes

Mercedes Benz F1 team is owned by the Diamler Corporation and is based in the U.K. Mercedes Benz F1 represents Germany in sporting competitions and is valued at $390 million dollars. The team generates $176 million dollars in profits and is backed by companies such as MIG Bank, Petronas and Allianz. Drivers for F1 Team Mercedes include Nico Rosberg and Lewis Hamilton.

Red Bull

Red Bull F1 Team is another racing franchised owned by the Red Bull energy drink corporation. Red Bull F1 Team is valued at $400 million dollars and is sponsored by business organizations such as Pepe Jeans, Casio and Infiniti. The owner of the team is the Red Bull Corporation and the team is based in the U.K. though it represents the nation of Austria. Sebastian Vetter and Mark Webber are the team's drivers. Red Bull F1 Team generates $160 million dollars in profits.

McLaren

McLaren is a racing team that is based out of Woking, Surrey, U.K. and is worth $800 million dollars. This racing franchise is capable of generating $272 million dollars making it one of the most profitable sports organizations in the world. Mumtalakat Holdings, Ron Dennis and TAG Group are the co-owners of this organization. Sergio Perez and Vincent Button are the team's race drivers and the organization's primary sponsors include Vodafone, Johnnie Walker and Hugo Boss United Kingdom.

Ferrari

Ferrari F1 Team is valued at 1.15 billion dollars making it a powerhouse in terms of value and revenue. The organization generates $384 million dollars from its races, sponsorships and merchandising. Major sponsors include Marlboro, Santander and Shell. The Fiat Group owns team Ferrari and the racing drivers are Fernando Alonso and Felipe Massa. Ferrari F1 Team is based in Maranello, Italy and not the U.K. unlike most other F1 racing teams.