Formula One is among the fastest-growing sports in the world, oozing sex appeal with young drivers and zippy cars. But it is having trouble translating that revved-up popularity into the large-scale rights package it wants.F1, which Liberty Media FWONA -4.66%decrease; red down pointing triangle bought in 2017, has been shopping a rights package at around $150 million to $180 million a year beginning with the 2026 season, according to people familiar with the matter, though there isn’t an official asking price. That would be up to double what ESPN has been paying recently, and a far cry from a multiyear agreement it reached with F1 in 2018, when the Disney-owned network had the right to air races for free.

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