F1 secures massive new US television rights deal with ESPN
Jun.27 - Formula 1 has managed to multiply the value of its television rights deal in the United States by a staggering factor of 15.
That is the revelation of Sports Business Journal, reporting that Liberty Media-owned Formula One Management has leveraged the sport's popularity explosion in the US in renewing its deal with ESPN through 2025.
We reported earlier that rival bidders, including Amazon and Netflix, had been told by F1 last Friday that ESPN had secured a new deal that is believed to be valued at $75-90 million per year.
Currently, ESPN pays only about $5m per year.
The success of the negotiations, off the back of F1 setting up exciting new races in Miami and Las Vegas, will be music to the ears of F1 chief executive Stefano Domenicali.
He thinks the remainder of the 2022 world championship will continue to be exciting, despite the fact that many pundits are predicting that Red Bull's Max Verstappen will continue to pull away from Ferrari rival Charles Leclerc.
"It's too early to say the championship is finished, and I say that not because I hope that but I do believe that," Domenicali told the Evening Standard.
"It all depends how the cars adapt to the circuits and how, with this budget cap, the teams relay upgrades to the car. That's the beauty of the situation we're in," the Italian said.
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Sadly, Sky Sports have the exclusive rights to 2024.
That means we have to listen to David Croft and Martin Brundle sing the praises of Dame Lucille ad nauseum, especially when he claws his way up from 8th to 6th place, or for that matter, finds a third-place finish. Such mind-bending talent, and viewers must be reminded of it in every second sentence.
I dearly miss the wit and succinct narration of David Coulthard.
Coulthard can say exactly what he wants and often does , and if often Very Right... but the main reason he can say what he likes, he owns the production company that sells the f1 re run back to C4 for us non sky payers, they've got to pander to what the directors say, and want them to say, or lose there contracts, which wont be an insignificant amount of $$ per yr
The ESPN deal is good news for the US fans. With that sort of investment they might elevate F1 above womens college volleyball status and give us some decent coverage. We're probably stuck with the SKYguys blathering but at least we avoided another pay-to-watch outfit. Lesser of a bunch of evils.
Did you figure out who i was on about Ror A Knight and ex WDC?
Without research, JYS is the one who comes to mind, but you guys hand out knighthoods like we do political pardons so perhaps I need correction.
Bigger challenge. I rate Lewie to give the youngsters a go this week. That should piss you off good and proper.
'you guys hand out knighthoods like we do political pardons'
best comment ever
yes should be as you say a line in the sand for him , if he fails hes gone , if he wins through skill , not luck , then different matter
i wholeheartedly disagree ror
pop-saturation and $ milking is never a good thing for purists
and womens college volleyball sounds like some good viewing
Of course you are correct about $$$ loading but facts are facts. And I should have said water polo, not volleyball. :)
Women's Brazillian Beach Volleyball competition has my vote. OMG. Sigh.
The Hell with the F1 Princesses mincing about and bitching over shite they know nothing about.
"exciting new races in Miami and Las Vegas" ~ what a farce! The Lost Vagrant casino car park race is as boring as bat sh*t! It makes the drivers and spectators giddy!
However, nice to see the F1 owners trying to upstage speedway and NASCAR in the US. Lots of luck there!
Ahh come on Smokey f1 doesn't need luck with Sir Lewis at the helm.
Does America get the whole pantomime Dame thing ?
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