Apple has submitted a bid worth at least $150 million a year for the U.S. rights to stream Formula 1 races starting in 2026, Business Insider reported on Friday, citing a source familiar with the negotiations.

At the moment, ESPN has the rights. But Apple has made a made a bid “worth at least $150 million a year to stream the races starting in 2026” and ESPN “isn’t going to try to match or beat that,” Business Insider reports.

The Movie, Apple is weighing up the acquisition of Formula 1’s American broadcast rights, the Financial Times reports. Current broadcast partner ESPN looks set to relinquish its broadcast rights at the conclusion of the F1 2025 season,