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.

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.

ESPN has remained in the mix for retaining U.S. rights, but sources say Apple's offer greatly eclipses the sports media giant's bid