Apple always seems to have some rumors floating around about it, but never before has Apple been connected to this type of rumor. Word of Apple potentially having interest in purchasing a stake in Formula 1 has some buzzing about the possibilities.
Forget about the next version of the iPhone or iPad, and put the rumors about a possible speaker system to the side. Apple is being mentioend as a possible suitor to invest in Formula 1 by F1 blogger Joe Saward, who says F1 is currently reviewing a serious bidder. Saward notes Apple could be that bidder.
“The whisper is that the latest bidder is Apple Inc., which is a company with $161 billion in net cash at the moment, despite having spent $117 billion on share repurchases and $46 billion on dividends in recent years,” Saward says. Apple certainly has cash to work with, but it is this next line that should be of particular interest when considering Apple as a potential bidder for F1 rights. “Apple doesn’t typically make big purchases but usually buys small business and incorporates the technology into its products but the viewing habits of the world are changing, with traditional broadcasters, cable and satellite networks under threat from “over-the-top” content providers.”
Can you say “Apple TV?”
Purchasing F1 would allow Apple to gain control of F1’s media rights. If they chose, they could sell to the highest bidder for F1 coverage, or they could just as easily capitalize on it by keeping it on their own streaming services provided through Apple TV. F1 fans could potentially have to have an Apple TV in order to watch the sport.
It is also worth mentioning here, as Business Insider did, that Apple is working on its own car, code-named Project Titan. Aligning the Apple brand with state-of-=the-art car manufacturers like Ferrari and McLaren could help advance Apple’s efforts in the car industry, and could help make Apple access in the cars produced by other companies more wide-spread.
For now, this is all to be considered speculation, as nobody from either side has confirmed, nor denied, such discussions and rumors. But when you put it all together, the investment seems to make sense for Apple, and F1 is out to take the most desirable offer. If Apple’s potential bid is lucrative enough, it could all come together.
