Apple is willing to pay $2bn a year for exclusive rights to broadcast Formula 1 rounds

Apple wants to become the exclusive rights holder of Formula 1 races. The American company is ready to pay twice as much as Formula 1 Group receives now for global television rights.

Here's What We Know

It is assumed that Apple will be able to conclude the deal not earlier than 2025. It is until that year that F1 has its current agreement with ESPN, one of the race broadcasters. The deal with Apple will be for 7 years, and the American company will pay $2bn a year.

Within five years, all of Formula 1 Group's current agreements with current broadcasters will expire. Thus, Apple will not immediately pay $2 billion per year, but a part of the amount proportional to the share of the rights received.

Recall that in February 2023 the company from Cupertino launched MLS Season Pass. The service allows you to watch football without an Apple TV+ subscription and already has 1 million new subscribers.

Source: Business F1