Formula 1 News: US TV media rights deal announcement close

Formula 1’s U.S. TV media rights deal, set to expire at the end of 2025, is nearing a new agreement, according to Liberty Media CEO Derek Chang. Speaking at the Goldman Sachs Communacopia and Technology Conference, Chang noted that negotiations are “pretty far along,” with an announcement expected soon.

–by Mark Cipolloni–

Currently, ESPN holds the rights to broadcast F1 races and related sessions, utilizing Sky Sports’ British feed rather than producing its own. The Athletic reports that ESPN and Apple are the frontrunners for the next deal. Apple, which recently produced the successful F1: The Movie starring Brad Pitt and Damson Idris, is reportedly offering $120–150 million annually, significantly outpacing ESPN’s rumored $90 million bid.

Chang emphasized that the decision isn’t solely about money. Key considerations include whether the partner can act as a sponsor, amplify fan engagement, and support F1’s U.S. growth, which includes races in Austin, Miami, and Las Vegas.

“Bringing in a partner who amplifies [our growth] on an overall holistic basis and drives engagement with fans is what’s important,” Chang said.

With F1’s popularity soaring, Liberty Media is poised to secure a record-breaking, long-term deal. Just a few years ago, F1 offered its U.S. rights to ESPN for free—a stark contrast to today’s high-stakes negotiations.

On ABC/ESPN/ESPN2 F1 races are averaging 1.4 million TV viewers per race this year, well above the record of 1.21 million set in 2022, and 15 of 16 races are up year over year.

The 10 races this season setting viewership records were Australia, China, Monaco, Spain, Canada, Austria, Great Britain, Belgium, The Netherlands, and Italy. The Miami race in May is the only race this season to not have year-over-year viewership growth.