Apple continues to look for sports properties for its streaming service. Over the last two years, Apple has signed deals with Major League Baseball and Major League Soccer for Apple TV+ as well as becoming the sponsor of the Super Bowl Halftime Show.
According to Business F1 magazine, the tech company is looking to make an offer of $2 billion annually for a deal that would likely begin in 2025.
Should Apple successfully bring F1 into its fold, it would be an annual subscription similar to MLS Season Pass which the company has deemed a success. 9to5Mac says a $2 billion fee would double what F1 currently receives from rightsholders around the world including ESPN in the United States, Sky Sports in the UK and 7 Network in Australia.
If Apple is able to complete the deal, it would not be able to gain global rights right away as many deals would not expire until 2029. ESPN’s current contract with F1 expires in 2025 which is when Apple’s deal would begin. 9to5Mac says Apple would seek a seven year contract and by the end of the term, would have world exclusivity to F1.
9to5Mac also points out that this is not the first interest for Apple with F1:
The company’s Apple TV+ content arm already has several interests in F1. It is currently in the process of producing a big-budget F1 movie starring Brad Pitt, and a documentary on racing legend Lewis Hamilton. The F1 movie was filming on track at Silverstone in July, but further production has been on pause due to the ongoing actor’s strike.`
In addition to its current deals, Apple also sought the media rights to the Pac-12 which eventually led to the league’s collapse as well as NFL Sunday Ticket which went to Google.
Apple is speculated to be a potential suitor for the NBA next year as well as the next round of English Premier League UK rights and the Bundesliga as well.
Eddie Cue, Apple’s senior vice president of Internet Software and Services, is a sports fan and was instrumental in gaining global exclusive rights to MLS for the company. To say he’s looking to expand Apple’s sports portfolio is an understatement. Should Apple get the rights to F1, not only would it deploy a similar strategy for MLS, but also gain a sport that is rising in popularity in the United States.
It would also let the traditional media companies like Comcast, Disney and Paramount Global that Apple has very deep pockets to get the sports properties it desires.
[9to5Mac]
