Liberty Media lost out on a $40million deal to continue broadcasting Formula 1 in the United States over its insistence to introduce F1 TV Pro to North American fans. Autoweek reports that not only did Liberty skip on a huge agreement with NBC, but the subsequent launch of the streaming service has only landed an estimated $1million.
F1 has been aired on ESPN in the United States this year, with coverage pulled in from Sky Sports in the UK.
The switch has angered fans Stateside, with NBC having previously put together its own broadcasts from grands prix.
Not only have fans been upset by Liberty's decision for this season, but the bank balance has also been hit as NBC had reportedly previously agreed a new deal that could have run until 2025 and netted F1 $40m.
However, NBC were not willing to enter an agreement that would see F1 also air races to American fans on its streaming service.
F1 TV Pro is not available to fans in the UK, for example, where Sky hold exclusive rights.
"We are a television network and a television channel that relies on advertising,” Autoweek quotes an unnamed NBC source.
"We would have been able to stream it as well, but they would have been able to sell it and what that meant is they could have gone to people who don't get our channel.
"They would have been able to go to people who don't get NBC or NBCSN and sell them the race. It would be a direct competitor, and we don't do that with anybody, from NASCAR to golf to hockey to the Olympics. Nobody.
"And you can't do that in the U.K. with Formula 1. So we said no."
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