F1 will stay with ESPN in the United States of America. After much negotiations over the new broadcasting rights deal for the sport, F1 has decided to continue its partnership with ESPN.

ESPN, which comes under the umbrella of the Disney family, will share broadcasting duties with ABC. Previously, the broadcasting giant was paying around $5 million per year for rights.

As reported by Sportsbusinessjournal, the new deal has now increased to a total of $75-$90 million a year from 2023 to 2025. While there were several companies vying for the honor to get the rights to F1, it was ESPN that beat out the likes of Amazon and Comcast’s NBC.

How Much Does It Take For a City to Hold a Formula One Grand Prix Race?

With the growing interest in the sport in the US, F1 naturally wanted a bigger deal, involving more money from ESPN. There were intense discussions held between F1 and Disney for quite some time. Domenicali even revealed that they were looking for some other options.

F1 CEO comments on the broadcast deal for the sport in the US

F1 CEO Stefano Domenicali did not really reveal the number that the sport was asking, but he mentioned that there were many players in the market. Companies like HBO and Peacock also threw their hats in the mix.

The F1 CEO said his team was “exploring all of the opportunities” and “not in a rush to make the decision.” While Liberty Media Head Greg Maffei gave a more detailed answer. “I don’t think, as you know, it’s a complete trade-off. There will be degrees of access, degrees of coverage, and there’ll be degrees of money,” said Maffei.

Trending

Adrian Newey’s “Personal Issue” With Christian Horner the Reason Behind Red Bull Mastermind’s Exit

April 27, 2024 10:51 AM EDT

Liam Lawson’s Surprise Contract Clause Threatens Daniel Ricciardo’s RB Seat

April 24, 2024 11:15 AM EDT

F1 Rumor: Lawrence Stroll Offers Adrian Newey $100 Million to Poach Him From Frederic Vasseur and Co’s Interest

April 26, 2024 03:16 PM EDT

F1 Rumor: Christian Horner and Wife Geri to Publicly Reveal All Details on Leaked Chat Scandal

April 22, 2024 04:10 PM EDT

Adrian Newey to Ferrari, Max Verstappen to Mercedes: What Does the Future Behold for Christian Horner and Red Bull?

April 27, 2024 04:15 PM EDT

Get instantly notified of the hottest F1 stories via Google! Click on Follow Us and Tap the Blue Star.

Follow Us

WATCH THE STORY: F1 Driver Salaries Revealed: How Much Do Lewis Hamilton & Co. Earn?

Interestingly, even Netflix made a bid for the broadcast rights for F1, but the sport wasn’t ready to stream the races on the platform as of yet. Netflix and its series Drive to Survive have played a key role in the sport’s marketization in the US. The series has had a huge part to play in getting F1 the popularity that the sport enjoys at the moment. Do you want F1 to stream on Netflix?