Apple may make multimillion-dollar offer to bring Formula 1 to Apple TV+

Manzana will explore the possibility of expanding its presence in the field of live sporting events, and none other than Formula 1. According to the magazine Business F1Cupertino residents would be willing to pay multimillion-dollar sums for buy global rights to the highest category of world motorsport.

In the October issue, the above-mentioned media confirm that Tim Cook’s team is serious and aims to make an offer that Formula 1 promoters cannot refuse. In particular, it refers to an agreement that can be assessed at up to 2 billion dollars per year.

Formula One Group, the Liberty Media group that organizes the competition and is responsible for commercial rights, is currently raising half of what Apple is expected to pay. In any case, there are several aspects that will make you take the potential offer with a grain of salt.

First of all, Today, there is no single owner of the rights to broadcast Formula 1 throughout the world.. The situation varies greatly depending on each country or region, not only in terms of the supply of TV channels or streaming platforms that offer it, but also depending on the duration of the contracts in force.

Just as in Spain the races are broadcast on DAZN, in Latin America they are available on Fox Sports/ESPN and Star+ or F1 TV, to name just a couple of practical examples. As for current agreements, there are cases where they end this year, and in others they are extended until 2025, 2026 or 2029.

Formula 1 could be Apple’s next big bet on sporting events

If Apple really wants the global rights to stream Formula 1 racing on Apple TV+, it may have to wait quite a while to get them. Business F1 mentions what the apple company would be willing to do tiered offer depending on how much exclusivity you can get.

Cupertino residents could start the process by controlling 25% of the world’s broadcast rights, gradually increasing their presence until they reach 100% in 5 years. This will give Formula 1 promoters time to finalize their current contracts with the others. broadcasters.

It is also indicated that Apple may demand that its agreement with Formula 1 be cancelled. for a period of at least 7 years and for a fixed amount of money. In any case, it is unclear whether this will only apply after absolute exclusivity has been achieved, or whether it would correspond to a scenario in which the company only controls a portion of the international rights through Apple TV+.

Want to recapture the MLS Season Ticket hype?

At the moment, neither Apple nor Formula 1 have made a request to confirm or deny a possible rapprochement between the parties. If the people of Cupertino could maintain exclusive coverage of the most important category in world motorsport, that would be a real bomb. Of course, in addition to broadcasting the races, there are a few other issues that need to be clarified, such as what will happen with the production of additional relevant content.

It’s impossible not to think about what the future could be Ride to survive, the hit Netflix original series that played a pivotal role in the rise of Formula 1 among young people. Additionally, Apple is already working with Formula 1 on this front, producing a film starring Brad Pitt and including filming some on-track scenes during this year’s Silverstone Grand Prix. Could this be a harbinger of what is to come?

If Tim Cook’s people go ahead with this obvious plan, They will certainly look to replicate the success they had with the MLS Season Ticket.. Apple now has global rights to broadcast Division I soccer games in the United States after signing a 10-year deal worth $250 million per season. A business that initially did not attract much attention, but exploded thanks to the arrival of Lionel Messi at Inter Miami.

Will Formula 1 be Apple’s next big test? If this comes to fruition, it will represent a phenomenal leap forward in realizing the aspirations of Cupertino residents with Apple TV+. Especially considering that the company’s entry into live sporting events began in 2022 rather austerely, with MLB baseball.