MX23RW : Wednesday, October 21 10:22:34| >> :600:134673145:134673145:

Apple linked with Formula 1 rights buyout

Technology giant Apple is linked with buying Formula 1's commercial rights.

Technology giant Apple has been linked with buying Formula 1's commercial rights.

Potential buyers of the majority stake in the sport currently owned by CVC have been the subject of speculation for some time, but it is the first time Apple has been mentioned.

The rumour began to do the rounds this week after the report of an F1 blogger, but the technology media world reacted with scepticism.

Apple Insider said that the blogger was "unable to nail down details, or indeed procure any concrete information beyond hearsay".

Business Insider added that "there's no solid evidence to support these rumours at this stage", adding that buying Formula 1 would be "unusual" for Apple to pay billions for a company in the sporting realm.

However, it is suggested that owning F1 would help its so-called 'Apple Car' project, while control of a global sport like F1 might give Apple a boost with its Apple TV service.

Publications contacted both Apple and the Formula One Group, and neither responded.

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