Formula 1 has extended for an additional three years its broadcast contract with ESPN, allowing viewers in the United States to enjoy coverage of all races until the end of 2025.
While Formula 1 did not disclose the financial terms of its new deal with The Walt Disney Company, the parent company of ESPN, the sport's significant growth in America has certainly allowed it to command a much bigger premium than its original rights deal signed with the broadcaster in 2018.
The new contract also strengthens the value of the American market for Formula 1.
"At least 16 races will air on ABC and ESPN each season, more than in each of the previous five years since F1 returned to ESPN Networks in 2018, and all race broadcasts on ABC, ESPN and ESPN2 will continue the commercial-free presentation used over the past five seasons," said F1 in a statement.
"The new agreement also includes expanded direct-to-consumer rights, giving ESPN flexibility to roll out additional ways for fans in the United States to consume F1 content over the next three years, including on ESPN+, with details to be announced later.
"All race weekends will continue to include live broadcasts of all practice sessions, qualifying (including the F1 Sprint) and races, as well as pre-race and post-race coverage. The new agreement includes an increased focus on qualifying, with more sessions airing on ESPN or ESPN2."
F1 boss Stefano Domenicali noted the instrumental role played by ESPN in recent years in helping spur the sport's popularity and success in America.
"F1 has seen incredible growth in the United States with sold out events and record television audiences," said the Italian.
"And the addition of Las Vegas to the calendar next season, alongside Austin and Miami, will see us host three spectacular races there.
"The ESPN networks have played a huge part in that growth with their dedicated quality coverage.
"We are excited to expand our relationship and continue to bring the passion and excitement of Formula 1 to our viewers in the US together."
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