25/06/2022
NEWS STORY
It is understood that Disney-owned ESPN is close to agreeing a new deal with F1 for the rights to broadcast the sport in the US.
However, while the broadcaster's previous three-year deal, agreed in 2019, was for $5m a year, the new deal, also for three-years, is said to be worth around $75m - $90m a year.
According to Sports Business Journal, the deal will give ESPN the right to "put a small, but an undetermined number of races exclusively on its ESPN+", though "most races will be carried on linear television, either ABC or ESPN."
ESPN is understood to have been battling for the rights with Netflix - keen to capitalise on the success of its Drive to Survive series - and Amazon, which looked set to makes its first ever foray into live sports coverage.
Ironically, it is Drive to Survive which driven the sport's popularity through the roof, particularly in the US, the result of which has left ESPN - if the figures are correct - facing a 1,500% increase in its fee... which, of course, will be passed on to subscribers.
According to ESPN, 2021 was its most successful season to date, but with viewing numbers for this year already up 53% (for the opening 5 races) the broadcaster is anticipating bumper figures.
Indeed, so far this year each race has averaged 1.4 million viewers, up 49% on 2021's average (949,000) and 131% up on 2020 (609,000).
While Sports Business Journal admits that the deal has not been officially signed - hence no statement from Stefano Domenicali - executives at the rival bidders have been notified that their bids were not successful.