Codemasters has secured the exclusive video game rights to Formula 1 it was announced today. In a worldwide licensing agreement with Formula One Administration Limited, Codemasters will develop a new generation of the multi-million selling F1 game franchise across multiple platforms.

“Formula 1 is ambitious in expanding its reach with more circuits planned beyond recent additions in the Middle East and China. It is also ambitious in expanding its reach via technology. The digital communities that computer and video gaming creates will play a key role in further growing the Formula 1 audience and connecting them globally,” said Rod Cousens, chief executive officer, Codemasters.

“As a world-leading creator of driving games, this alliance with Formula 1 is the jewel in Codemasters’ racing crown and creates an undisputed segment champion. Formula 1 has gone with the best, the segment leader. It has gone to the home of the EGO Engine for quality; it has gone to the company that can host Formula 1 Online, to the company that is streaking away from the pack.”

“Codemasters’ success and recent innovations in the racing game space makes the company more than appropriately tuned for the challenge,” said Chris Deering, chairman, Codemasters. “The combination of Formula 1’s new momentum of expansion and Codemasters’ contemporary technology and past experience is the breaking of a new dawn for the sport, on the track and on the HD game screen.”

The worldwide deal provides Codemasters with rights to feature all Grand Prix circuits, Formula 1 teams, cars, and driver likenesses.

The FIA Formula One World Championship games will be developed using the evolution of the award-winning EGO Game Technology Engine, Codemasters’ highly versatile cross-platform middleware technology. Its advanced graphics and physics technology brings an unmatched cinematic quality and realism to interactive entertainment.

The EGO Engine is currently being deployed in the creation of Race Driver: GRID, the latest in Codemasters Studio’s international circuit-based racing series. Set to be a landmark release when it launches on May 30th, Race Driver: GRID was recently hailed as “The driving game of the summer” by BBC Top Gear magazine.

The estimated price of the F1 licence is at over $75 million.

This entry was posted on Wednesday, May 14th, 2008 at 08:06 and is filed under Formula 1, Game types, Microsoft Xbox 360, PC, Sony PlayStation 3. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.