Page Reader AI | Formula One’s TV Rights Are Up for Grabs, but Media Companies Aren’t Racing to Bid

Formula One’s TV Rights Are Up for Grabs, but Media Companies Aren’t Racing to Bid - WSJ

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Formula 1's TV Rights Struggle

Formula 1, a rapidly growing sport, is seeking a significant increase in its TV rights fees for the 2026 season, aiming for an annual package worth $150 million to $180 million. This represents a potential doubling of the current ESPN fee and a sharp contrast to the previous deal in 2018, where ESPN secured free broadcast rights.

Challenges in Securing a Deal

Despite F1's popularity, media companies are showing reluctance to match Liberty Media's ambitious pricing. This lack of aggressive bidding highlights the complexities and challenges F1 faces in translating its growth into lucrative broadcasting agreements.

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.