AgenciesThe offer positions Apple as the frontrunner to secure the highly sought-after rights, with current broadcaster ESPN - owned by Walt Disney Co. - unlikely to match the bid. (Agencies Photo) Apple Inc. is reportedly making a bold entry into motorsports by bidding at least $150 million per year for exclusive US streaming rights to Formula One starting in 2026, according to a Business Insider report citing a source close to the negotiations.The offer positions Apple as the frontrunner to secure the highly sought-after rights, with current broadcaster ESPN - owned by Walt Disney Co. - unlikely to match the bid. ESPN’s contract expires at the end of this season, and its renewal exclusivity window has already closed.If the deal goes through, it would mark a major expansion of Apple’s growing footprint in live sports, following its recent deals involving Major League Soccer and Major League Baseball. It also comes shortly after the success of Apple’s F1-themed film F1: The Movie, starring Brad Pitt, which has grossed over $300 million globally as of July 11, per Box Office Mojo.Neither Apple, Formula 1, nor its parent company Liberty Media have issued official comments on the report.Live EventsThe potential deal highlights Apple’s strategy to position Apple TV+ as a hub for premium sports content and tap into the surging popularity of Formula 1 in the US If finalized, it would mark a major shift in American F1 viewership - moving the sport from traditional cable platforms to Apple's streaming ecosystem.(You can now subscribe to our Economic Times WhatsApp channel) Read More News onApple Inc.Formula OneF1 streaming rightsApple TV+ESPNLiberty MediaappleMajor League Soccermajor league baseballbusiness insider (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onApple Inc.Formula OneF1 streaming rightsApple TV+ESPNLiberty MediaappleMajor League Soccermajor league baseballbusiness insider(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless