Apple eye up F1 deal worth BILLIONS which would transform global TV rights

Lewis Hamilton and Max Verstappen celebrate on the podium — Photo: © LAT Images

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Apple eye up F1 deal worth BILLIONS which would transform global TV rights

The deal could be set to send a shockwave around the world for F1 broadcasters

Matthew Hobkinson Lead Editor

F1 Editor & Journalist

Sunday 1 October 2023 06:57

Formula 1 could be set for a major broadcast shake-up after reports emerged over Apple's interest in bidding for the global television rights for the sport.

According to the latest edition of Business F1 magazine, Apple are 'serious' about mounting a 'blockbuster' bid in the future for the global rights to broadcast F1.

It is thought that the deal could cost up to $2billion (£1.64bn) a year, an amount that would be twice as much as F1 currently receive from their global TV rights.

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The report states that Apple are looking at a 'sliding scale' of exclusivity, starting at an initial 25 per cent, before eventually targeting 100 per cent in five years' time when the remaining contracts come to a conclusion.

Apple looking at various sports deals

Apple are reportedly weighing up a bid for F1's global TV rights

The roaring success of Apple's new deal with the MLS (USA's Major League Soccer) is understood to have spurred on another charge for F1's broadcast rights.

Given the triumph of Netflix's hit fly-on-the-wall documentary series Drive to Survive, it is no wonder that Apple are rumoured to be interested in pursuing the sport further.

Alongside F1, Apple are also believed to be eyeing up a move to show the English Premier League as they look to create a comprehensive live sports package.

Whether any deal with Apple will materialise is yet to be seen, but the likes of Sky Sports and Viaplay will no doubt be taking notice of Apple's intentions as they aim to take a slice – or even the whole cake – of F1's action.

Despite the unsubstantiated claims that Max Verstappen's dominance is driving fans away from the sport, Apple apparently see otherwise when it comes to the future of F1.

Ian Holmes, director of media rights for Formula 1, was approached for comment by Business F1 magazine, yet he 'preferred not to at this time'.