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Did Apple Overpay for F1?

Apple’s $140 million annual investment in F1 is a huge bet on its future, even as the data suggests its U.S. popularity may have already peaked. Did Liberty Media pull off the deal of the century? Or does F1 make sense for Apple in ways that it didn’t for ESPN?

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F1 Charles Leclerc
I don’t want to suggest that Drive to Survive fans who tune in to see Max Verstappen, Lewis Hamilton, or Charles Leclerc for the drama on and off the track are going to be sated by IndyCar or NASCAR, but it’s worth remembering that F1 is far from the most popular racing series in the U.S. Photo: Mark Thompson/Getty Images
Julia Alexander
October 21, 2025

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On Friday, after months of negotiation, Apple TV+ finalized its deal for exclusive domestic rights to F1 starting with the 2026 season. It is, by far, the biggest sports investment Apple has ever made—worth a reported $700 million over five years. In its official release, Eddy Cue, Apple’s senior V.P. of services, described F1 as “one of the most exciting and fastest-growing sports on the planet.” But… is it? Or did Apple pay up at the very moment that its domestic growth spurt is petering out?

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