F1 this week will announce officially that CAA Sports is its "agency of record, responsible for selling the racing circuit’s rights globally." The deal runs through '18, after which the two sides "expect to renew." Terms of the deal "were not disclosed but CAA Sports likely receives a percentage of deals they close on behalf of F1."
The deal is a "boon for CAA Sports, which convinced F1 to hire it because of the agency’s work with other companies." CAA Sports has deals with entities such as F1 team Red Bull Racing, the 49ers and Warriors. SPORTSBUSINESS JOURNAL