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F1 inks massive new US television deal
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 N through 2025. We reported earlier that rival bidders, including Amazon and Netflix, had been told by F1 last Friday that N had secured a new deal that is believed to be valued at $75-90 million per year. Currently, N 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...
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