Apple has made a bid of at least $150 million per year to secure the U.S. streaming rights for Formula 1 races starting in 2026, according to a report by Business Insider citing an insider familiar with the negotiations. The tech giant appears to be the frontrunner in the bidding process, with ESPN, currently the rights holder, opting not to match or surpass Apple’s offer.
Apple did not comment on the report when contacted by Reuters, while Formula 1 and its parent company Liberty Media have yet to respond. This development comes on the heels of Apple’s success with the film “F1: The Movie,” starring Brad Pitt, which has grossed more than $300 million globally.
ESPN holds the U.S. broadcasting rights for the current Formula 1 season, but its exclusivity period to negotiate a new deal with Formula 1 expired earlier this year, Reuters reported in February.
If Apple wins the rights, it would mark a significant expansion of the company’s sports streaming portfolio and further challenge traditional sports broadcasters in the U.S. market.