Codemasters is working on a free-to-play browser-based F1 title, for release in the first part of 2012.
The game will feature all the official teams, drivers and circuits from the 2011 Championship, and use assets and date from the console F1 2011 title. You can race friends in multiple game modes and track your progression against others in integrated social network and leader board features.
You can also create your own team and manage the commercial, research, production and race crew functions of the company, letting you play boss as well as driver.
The game's being developed in-house using the Unity engine.
"F1 ONLINE: THE GAME is a perfect complimentary experience to the HD series and will appeal to a broad spectrum of FORMULA ONE's millions of fans worldwide," said David Solari, VP, Codemasters Online.
You can register for updates at the official website.