Liberty says US TV rights deal close to finalisation

Liberty Media president Derek Chang has confirmed that talks over Formula 1’s next American broadcast contract are nearing their conclusion.

Speaking at the Goldman Sachs Communacopia and Technology Conference, Chang stopped short of naming Apple, though the company is widely considered the favourite to take over from 2026.

“I think it’s been pretty well-documented in terms of the negotiations, we are pretty far along, and we’re pretty happy and comfortable with sort of where we’re going to end up,” he said. “Hopefully we’ll have something to talk about relatively soon.”

Reports earlier this year claimed Apple had tabled a bid worth at least $150 million annually, far exceeding ESPN’s current $90m deal, while Netflix has also shown interest. The speculation comes as Apple ramps up its live sports portfolio with MLS and MLB, and on the heels of Formula 1’s Brad Pitt blockbuster success.

Chang suggested Liberty is looking for more than just a lucrative rights package, saying: “Is your media partner even just a media partner, or are they also a sponsor? If the latter, they have other ways that they’re going to monetise and commercialise the relationship."

He added: “Bringing in a partner who amplifies a lot of that for us on an overall holistic basis and driving that engagement with fans is what’s important.”