Benetton Formula Ltd., commonly referred to simply as Benetton, was a Formula One constructor that participated from 1986 to 2001. The team was owned by the Benetton family who run a worldwide chain of clothing stores of the same name. In 2000, the team was purchased by Renault, but competed as Benetton for the 2000 and 2001 seasons. In 2002, the team became Renault. The Benetton Formula team was chaired by Alessandro Benetton from 1988 to 1998.

Formula One, commonly known as Formula 1 or F1, is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The FIA Formula One World Championship has been one of the world's premier forms of racing since its inaugural running in 1950. The word formula in the name refers to the set of rules all participants' cars must follow. A Formula One season consists of a series of races, known as Grands Prix. Grands Prix take place in multiple countries and continents on either purpose-built circuits or closed public roads.