Apple is closing in on a major deal to stream Formula 1 races in the U.S., likely taking over from Disney-owned ESPN starting in 2026. The tech giant has reportedly offered at least $150 million per year for the rights, nearly doubling ESPN’s current payment. Unless something shifts at the last minute, the deal is Apple’s to lose.
If finalized, this will mark Apple’s third major move into live sports streaming. It already shows a selection of Major League Baseball games and holds exclusive rights to every Major League Soccer match. Adding F1 would give the company another high-profile asset to push Apple TV+ deeper into live entertainment.
A Strategic Shift for Both Companies
The move signals Apple’s growing ambition to become a serious player in the sports streaming space. While the company has stayed away from bidding on NFL rights, the most-watched content in American television, it’s willing to spend heavily on emerging sports with global appeal.
Formula 1 fits that bill. The sport’s popularity in the U.S. has surged in recent years, thanks in part to Netflix’s 2019 debut of the “Drive to Survive” docuseries. Since then, average U.S. viewership for F1 races has climbed to about 1.3 million per event, according to ESPN, more than double its 2018 numbers.
For ESPN, the decision to walk away appears to be a financial calculation. The network has been paying around $85 million annually for its current F1 package. A source familiar with the negotiations said ESPN won’t try to match Apple’s $150 million offer. The company seems to believe its money is better spent elsewhere.
Muted Competition, But Rising Stakes
Netflix, which once dismissed interest in live sports, explored a bid for F1 rights in 2022 but doesn’t appear to have pursued the opportunity this time. Other potential bidders also didn’t show strong interest, giving Apple a clearer path.
Apple’s interest in F1 extends beyond streaming. The company recently released “F1,” a racing film starring Brad Pitt, which became a box office success. Pairing that kind of scripted content with live sports gives Apple a way to deepen its storytelling around global franchises.
The Financial Times first reported Apple’s pursuit of the F1 rights. Puck later revealed the size of the bid. Neither Apple nor ESPN has commented publicly. F1 and its parent company Liberty Media have not responded to requests for comment.
For now, we can conclude that Apple is serious about live sports. And while it hasn’t cracked the NFL yet, this latest move shows it’s not staying on the sidelines.
