Apple has submitted a bid worth at least $150 million a year to stream Formula 1 races starting in 2026, Business Insider reported on Friday.
The United States broadcast rights for Formula 1 could be set for a bidding war.According to a report from Samuel Agini and Michael Acton at the Financial Times, Apple is in discussion with the racing series to take over the rights to broadcast Formula 1 in the United States.
Disney pays $85 million per year for the rights, and Formula 1 also charges fans directly for its own streaming service. Liberty Media, Formula 1's U.S. owners, hope that the Apple Original Film and Netflix's "Drive to Survive" documentary has increased the value of Formula 1.