Expensive Bid by Apple for F1 Media Rights Positions Tech Giant at the Forefront of Sports Broadcasting
In the world of sports and technology, two significant stories are making waves. First, Apple, the tech giant with a net profit of $93.7 billion for fiscal year 2024 and a market cap of $3.15 trillion, has made a formal offer to carry Formula 1 races. The offer, led by Apple senior VP of services Eddy Cue, is believed to be around $180 million annually, more than double the current $90 million/year deal.
The current contract between Formula 1 and its broadcasting partner, Disney, is set to expire in December. The success of Apple's Formula 1 movie, which has earned $116.9 million in the U.S. and $188.5 million overseas in its first 12 days, and Apple's global reach may influence the decision. However, Liberty Media, the company that owns Formula 1, has yet to accept the offer.
Meanwhile, in the realm of American football, the earnings of the top 20 NFL players for the year 2025 have been revealed. Kansas City Chiefs' quarterback Patrick Mahomes leads the list with the highest earnings, but the exact figures are not specified in the article. Collectively, these top 20 players earn over $1 billion.
The article does not provide any information on the salary cap for the NFL in 2025 or any potential impact of these high earners on the league's revenue or popularity. Furthermore, the names of the other 19 highest-paid NFL players besides Patrick Mahomes are not mentioned.
On the sports broadcasting front, ESPN's coverage of the British Grand Prix, won by McLaren's Lando Norris, averaged 1.5 million viewers, up 19% versus the year-ago telecast. Disney's F1 coverage is currently up 7% compared to the same period in 2024. The next Formula 1 race on Disney's schedule is the Belgian Grand Prix on July 27.
It's an exciting time for both sports and technology, as these two industries continue to intersect and evolve. The future of Formula 1 broadcasting and the earnings of the NFL's top players remain topics of interest and speculation.
