Formula 1 is on the lookout for a new television partner in the United States, as their deal with ESPN is set to expire at the end of 2025. ESPN did have an exclusive negotiating window, which just recently ended without the two sides reaching an extension or new deal.
The CEO of Formula 1, Stefano Domenicali, spoke about it recently, saying on a Liberty Media earnings call that there are a number of interested parties already in negotiations.
“First of all, we need to be thankful for what ESPN is providing us. We are very happy about the quality of the service. We need to remember always that they were first to believe in our project.
“And of course, now, there are other players around the table and we cannot deny the fact that there is a lot of interest around our product. We are fortunate enough to have compelling content and a growing fan base and strong demand … from various parties.”
One of those interested parties is believed to be Netflix, which has increased its presence in the sports world and already produces the “Drive to Survive” series. And while there’s no expectation for a deal to be announced before summer, it already sounds like ESPN is on the way out.
LAS VEGAS, NEVADA – NOVEMBER 21: Lewis Hamilton of Mercedes-AMG Petronas F1 Team (44) competes in the Second Practice Session Classification for Formula 1 Grand Prix of Las Vegas at Las Vegas Strip Circuit on November 21, 2024 in Las Vegas, Nevada, United States. (Photo by Tayfun Coskun/Anadolu via Getty Images)
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Did ESPN’s NBA Overpay Cost Them F1 And MLB?
This is the second blow to ESPN in recent weeks, as their partnership with Major League Baseball came to an abrupt end with an announcement from commissioner Rob Manfred. Now F1 is up for grabs too.
It’s been reported that Liberty wants a big increase from the $90 million ESPN paid for Formula 1 broadcast rights, an unsurprising ask considering the growth of the sport in the United States. MLB then bristled at ESPN asking for a significant cut in their rights fees, relative to other broadcast partners.
Yes, it is a changing media landscape. But are these two losses a result of ESPN spending $2.6 billion to secure the sinking NBA ship?
ESPN’s parent company, Disney, is dealing with tough financial times in 2025. With the company’s overt political stances, poor quality film releases, and extremely expensive theme park tickets leading to an underperforming stock price. With limited financial resources drying up, they chose to buy big into one of the worst-performing major sports leagues in America.
NBA ratings have dropped dramatically, as fans have been turned off by the league’s extreme, and open, political ideology, as well as “rest days” and boring style of play. That’s what ESPN spent money on, instead of the now-growing MLB and F1.
And they’re going to lose out on both as a result. Maybe stop investing because of political values and focus on quality of product instead.
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