Apple eyeing up bid for F1 in a deal that could help its own automotive pursuits

F1

Apple has been linked with the purchase of Formula One’s commercial rights, according to reports from the sport’s insiders.

Potential buyers of the majority stake in the sport currently owned by CVC have been reported on for some time, however the reports from well-respected and experienced F1 journalist, Joe Saward, are the first time Apple has been named as a potential buyer.

The move may initially appear out of keeping with the tech giant’s business strategy which largely focuses on the purchase smaller firms and startups rather than big-ticket buys like such as the world’s top motor racing organisation.

However Apple would stand to gain valuable digital content rights for its Apple TV service if it were to buy the sport.

Most significantly however would be the access which Apple would stand to gain from the automotive industry which would aid its rumored in-house electric car initiative, dubbed "Project Titan . The Silicon Valley giant could create close ties with auto sports' top echelon of car makers such as Ferrari, Mercedes and McLaren.

A successful bid would also buy Apple a seat at F1's governing body, the Fédération Internationale de l'Automobile (FIA), which also oversees the hugely tech focused and up-and-coming Formula E electric car series.

Last year CVC reportedly agreed to sell its remaining 35per cent share of F1 for £6bn to unnamed parties however the deal fell through despite Bernie Ecclestone and company being keen to unload their stake.

Tony Connelly

I cover media, marketing and sponsorship news within the sports industry. This includes breaking news as well as writing feature pieces with insights from experts in the sports marketing world.

All by Tony