In a recent report by Business F1 Magazine, Apple is exploring the possibility of entering the world of Formula 1 with a substantial investment. Sources suggest that Apple is contemplating an annual offer of approximately $2 billion, with the aim of securing exclusive streaming rights for Formula 1 racing events.

This potential deal would nearly double the current revenue generated by the Formula 1 league from its global television rights. It seems that Apple’s interest in the world of Formula 1 has grown considerably, partly inspired by the success of its MLS Season Pass.

If this endeavor becomes a reality, an Apple F1 pass is expected to coexist with other sports offerings like MLS and Apple TV+ within the Apple TV app, available as a standalone subscription.

However, it’s important to note that even if an agreement is reached, Apple won’t immediately secure global streaming rights. Existing contracts with various broadcasters across the world would hinder such an acquisition. The report suggests that Apple might structure the contract to gradually include more territories as rights become available in those markets.

For example, the United States broadcasting rights are tied up with ESPN until 2025, aligning with when the Apple-F1 deal could potentially commence. Apple’s proposed contract is rumored to span seven years, with global rights possibly becoming available around the five-year mark, considering that the current media deals for Formula 1 expire on or before 2029.

Apple’s interest in Formula 1 extends beyond just streaming rights. Its Apple TV+ content division is actively involved in the world of racing, with plans to produce a high-budget Formula 1 movie featuring Brad Pitt and a documentary centered around racing icon Lewis Hamilton. While production on the F1 movie was underway at Silverstone in July, it has since been temporarily halted due to an ongoing actors’ strike.

The possibility of an Apple Formula 1 streaming deal remains uncertain. Apple has been linked to various sports leagues, including the NBA, English Premier League, NFL Sunday Ticket, and more in the past. So far, it has successfully secured deals for MLS Season Pass and MLB Friday Night Baseball. The Formula 1 bid represents yet another intriguing move in the tech giant’s expansion into the world of sports content.