Tech giant Apple is set to acquire the television and digital rights to Formula 1 races in the United States. The deal is reportedly worth about $140 million a year, and an official announcement is expected at the US Grand Prix in Austin later this month.
This was reported by Puck. According to the source, the deal is scheduled to be announced at the Circuit of The Americas on October 17-19. The proposed amount is significantly more than what ESPN, which currently owns the rights, is paying.
ESPN’s three-year deal, signed in 2022, expires at the end of this year, and the company is reportedly not renewing the agreement for a new period. This has created an opportunity for Apple to enter the market with a strong offer. The company has already gained significant experience in sports broadcasting, having signed a 10-year, $2.5 billion partnership agreement with the US Major League Soccer (MLS).
One of the main topics of discussion between the parties is how Apple's broadcasts will operate in parallel with Formula 1's own digital platform - F1 TV.
Formula 1 has gained immense popularity in the United States in recent years. Thanks to the success of the documentary series "Drive to Survive" and Liberty Media's strategy focused on the American market, the number of viewers of the races has reached an average of 1.4 million on ESPN and ABC channels.
If the deal is formalized, this step will be a significant turning point for Apple in the US sports broadcasting market and will ensure that the company becomes a leading media player in both football and motorsports.
