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
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'.
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.
We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.