No more Formula 1 live coverage on free-to-air BBC channel in the UK as they have withdrawn from their current contract with F1 three years earlier as “Channel4” takes over the contract worth £12 million a year with 10 grand prix races live coverage. SkySports keep their exclusive rights to every grand prix live coverage & highlights.
BBC has withdrawn from their three year deal with Formula 1 to broadcast selected Formula 1 races each season on free-to-air national Uk channel. BBC are trying to reduce the budget spent on sports broadcasting rights and they will be surrendering their current F1 deal which was suppose to run till the end of 2018 season. ITV is highly likely to take over the same contract with Formula 1 after BBC’s deal is terminated.
Apparently BBC bosses meet Bernie Ecclestone in November 2015 to discuss re-negotiations of the current contract with reduce financial commitment from BBC but F1 chairman rejected the idea which means BBC will get their £12 million a year contract terminated as early as before the start of 2016 f1 season.
Channel 4 to share formula 1 rights with SkySports:
Channel 4 will sign the exact same contract with F1 which BBC and F1 had for the best part of last 10 years. SkySports will have exclusive rights for each and every grand prix of the season while ITV will have selected few grand prixs.
|PERIOD||YEARLY PAYMENT||GRAND PRIXS|
|3 years (2016-2018)||£12 million a year||Channel 4 Will have 10 grand prix rights (Malaysia, Bahrain, Canada, Grand Britain, Hungary, Beligum, Japan, Russian, Brazil and Abu Dhabi)|
Channel 4 will have around 10 grand prix’s for the 2016 Formula 1 coverage while the program team will be revealed before the start of 2016 season in march next year. Formula 1 is not the only sport lost by BBC with their current financial situation they have already lost “The Open” to skySports earlier. Take a look at our Formula 1 TV Channels broadcasting worldwide.