Huge news for Playstation racing fans came this week as Sony announced the next Gran Turismo title. It is called Gran Turismo Sport, is being made exclusively for Playstation 4, and it will be arriving next year. Best yet, Gran Turismo is expanding its reach into the world of professional racing by teaming up with the FIA for a pair of licensed competitions. Yeah, the international organization in charge of Formula 1 and Le Mans, is licensing a pair of racing series for Gran Turismo.

This is the big leagues, folks.

The two racing leagues will work much in the way that Formula 1’s Driver’s and Constructor’s championships work. The two series for Gran Turismo Sport will be the Nation’s Cup and the Manufacturer Fan Cup, and they will run simultaneously. The Nation’s Cup will be decided by a player’s home country, and the Manufacturer Fan Cup is organize around car makers.

There is not a lot of info about this game yet, but it will hit public beta early next year, with the full game launching later in the year.

To tide you over until then, why not watch the first trailer for the new game?