Is Apple Gearing Up To Buy Formula 1?
Apple is in talks to buy Formula 1, if rumours are to be believed.
The series’ chief executive Bernie Ecclestone has been publicly searching for a buyer since 2015.
According to popular F1 blogger Joe Saward, “The latest bidder is Apple Inc., which is a company with $161 billion in net cash at the moment.”
Ownership rights for the racing event are expected to go for approximately $8.5 billion.
Saward goes on to make the case for the acquisition, saying that “The Apple Car is expected to appear by 2020. Thus, there are three elements that would make the purchase of F1 a logical step of Apple. It can afford it, it can boost sales of Apple TVs and get people thinking about Apple in relation to cars.”
Considering Formula 1 is one of the most-watched sports in the world, and exclusive rights to F1 would be an obvious value-add for both the company’s Apple TV offerings.
It’d also make for an interesting accompaniment to the company’s own long-rumoured Apple Car.