Formula 1 has struck a new media rights deal to grow its reach across Asia.
The global racing series is linking up with BeIN Sports to broadcast every F1 race across 10 territories. Financial terms were not disclosed.
- The deal begins this year and runs through 2025.
- It covers Hong Kong, Singapore, Malaysia, Brunei, Indonesia, Timor-Leste, Philippines, Thailand, Laos, and Cambodia.
- BeIN’s television channels and streaming network, BeIN SPORTS CONNECT are included.
The deal unifies F1’s coverage under one broadcaster. Fox Sports Asia previously held rights in many of the territories covered by the deal with BeIN, but the Fox subsidiary closed in 2021.
The joint bid from Andretti Global and Cadillac is the only one to formally express interest in joining F1 to date, per FIA president Mohammed Ben Sulayem.
The group has secured financial backing from Guggenheim Partners to cover the $200 million entry fee and help construct a racing facility in Indiana.
Of the 10 F1 teams, only McLaren and Alpine support adding an additional team.
Oracle Red Bull principal Christian Horner told RACER that Andretti and Cadillac are “two phenomenal brands to have in the sport,” but how they will impact other teams’ finances is a point of contention.
“It ultimately boils down to, ‘Well, who’s going to pay for it?’ And you can assume that the teams, if they’re perceived to be the ones who are paying for it … of course it’s not going to sit that well.”