Netflix bids for F1 rights in US but misses out, ESPN big winner
General
- GPblog.com
Many parties were eager to win the television rights to Formula 1 in the United States, now that the premier class of motor sport is unprecedentedly popular and still growing. According to various reports, ESPN has now won the battle.
Amazon, Comcast and also Netflix were negotiating with Formula One Management (FOM), but it is reported that competitor ESPN has won. There is talk of a three-year contract that will pay between 75 and 90 million dollars a year. The current deal is worth 'only' 15 million dollars on an annual basis. So reports Sports Business Journal.
Until the 2025 season, Americans will have to watch ESPN. The television channel already owns the rights, so not much will change for consumers in the United States.
No Formula 1 on Netflix
According to rumours, Amazon made a much higher offer of around 100 million dollars per year, but that was not enough to convince the FOM. Netflix was also said to have held talks, but the streaming service's bid did not come close to the desired amount. Comcast matched ESPN's offer, but they also missed out.