• Loading stock data...
Wednesday, July 24, 2024
Join us this September for Tuned In Request to Attend

ESPN Scores U.S. Formula 1 Media Rights

  • ESPN is reportedly in agreement on a three-year deal for U.S. broadcast rights.
  • The deal is for $75 million to $90 million annually.
Formula-1
David Kirouac-USA TODAY Sports

Formula 1 is sticking with ESPN at a much higher price.

F1 and ESPN have agreed to a three-year contract for U.S. broadcast rights worth $75 million to $90 million annually, per Sports Business Journal.

Most races will be on ESPN or ABC, both of which are owned by Disney. ESPN will also have the option to air a certain number of races on its ESPN+ streaming service.

  • ESPN’s current deal, which was signed in 2019 and expires this year, was worth $5 million per year.
  • Amazon and Comcast also submitted bids but were informed by F1 that those proposals have been rejected. Amazon’s bid was reportedly around $100 million.

VW Companies Hit Brakes

Audi and Porsche are close to joining Formula 1, but first they want to make sure they get a look at the rules.

The two Volkswagen-owned motor companies were set to announce their entrance into the global racing series but are waiting on engine regulations for 2026 to be finalized. 

An announcement from the FIA World Motorsport Council was expected this month but has been pushed back to July. Once the regulations are announced, each company will have 15 days to decide to join Formula 1 in 2026.

Porsche is reportedly in advanced partnership talks with Red Bull Racing, the current leaders in the Constructors’ Championship.

Audi could partner with or even purchase Sauber’s Alfa Romeo team. The German brand may also connect with Aston Martin or Williams.

In April, Audi reportedly offered McLaren $718 million for a stake in its F1 unit.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Everything You Need to Know: Where NBA, WBD Stand in Rights Decision

The interpretation of TNT Sports’ matching rights with the NBA amplifies the drama in the high-profile saga.

Verstappen’s Slump Sparks F1 Ratings: Will More U.S. Fans Watch?

Formula One viewership has stalled over the last year as Verstappen has dominated.

WNBA All-Star Weekend Signals League’s Growth, Delivers Action

The WNBA All-Star weekend was a showcase of the league’s rise driven by rookies.
Hosts of Inside the NBA on TNT

TNT Sports’ Parent Moves to Keep NBA Rights Despite Financial Woes

Warner Bros. Discovery is attempting to make good on its bid to retain NBA rights.
podcast thumbnail mobile
Front Office Sports Today

NFL’s 18-Game Season & Contract Holdouts, Olympics’ Newest Sport

0:00

Featured Today

The FTC Noncompete Ruling Could Change MMA As We Know It

Fighters could see their options—and earnings—grow.
July 21, 2024

O No Canada: The Next Big Sports Betting Scandal Could Erupt North of the Border

‘It’s open-season for match-fixing up there.’
July 20, 2024

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Apr 15, 2024; Brooklyn, NY, USA; Caitlin Clark poses with WNBA commissioner Cathy Engelbert after being selected with the number one overall pick to the Indiana Fever during the 2024 WNBA Draft at the Brooklyn Academy of Music.
July 16, 2024

Women’s Sports Merch Is a $4 Billion Market, but Supply Isn’t Meeting Demand

Retailers can’t make women’s sports apparel fast enough.

Comcast Scores With NBA Deal and Olympics, but Financial Issues Brew

The NBC Sports parent company details its new NBA rights deal, even before a league announcement.
July 22, 2024

Sports TV Ratings Tend to Dip During Election Season, but Money Will Flow

Prior history suggests the upcoming election season will again prove disruptive to sports viewership.
July 23, 2024

WNBA Smashes Ratings Record With Competitive All-Star Game

The game was the league’s highest rated in more than 20 years.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
July 22, 2024

Cheryl Miller Joins WNBA Union in Blasting $2.2 Billion ‘Lowball’ Deal

‘Not enough. Not even close,’ Cheryl Miller said.
July 22, 2024

Today’s the Day for WBD to Match Amazon’s NBA Offer

Amazon may have boxed out WBD in its offer.
July 22, 2024

Thom Brennaman Returns to Booth Years After Viral Slur

‘There’s a drive into deep left field by Castellanos.’
July 21, 2024

Netflix Reigns Supreme: NFL Deal, Robust Earnings Highlight Q2 Report

Netflix delivers a strong quarterly report, helping ease prior investor concerns.