Developer and publisher Codemasters has announced acquiring the exclusive rights to create videogames based on Formula 1 racing.

The first game under this agreement, FIA Formula One World Championship, is already in development for multiple consoles and handhelds. It's a good bet Xbox 360 and Playstation 3 are included in that list, though a Nintendo Wii version is probably a long shot.

The game will be built upon the EGO Game Technology Engine which currently can be experienced playing Codemasters' GRID on Xbox 360 or Playstation 3. The high-definition visuals should translate well to Formula 1.

FIA Formula One World Championship is expected in stores sometime in 2009.