Rumor: Apple latest bidder for Formula 1 race series
According to rumors aired on Wednesday, Apple might be in the market to take ownership of embattled high-speed racing series Formula One as a means to increase automotive industry visibility ahead of "Apple Car."
In a post to his blog on Wednesday, noted F1 blogger Joe Saward said the latest rumors out of Formula 1 headquarters in Princes Gate, England, suggest a new round of due diligence is currently underway in preparation of a possible bid from Apple.
Saward was unable to nail down details, or indeed procure any concrete information beyond hearsay, though it is widely known that "F1 Supremo" and British businessman Bernie Ecclestone is looking for a buyer. Last year, a report from The Sun indicated CVC, a holding company that purchased a controlling interest in the 40-year-old sport in 2007, agreed to sell its remaining 35-percent share for 6 billion pounds (more than $8.5 billion at the time) to unnamed parties.
That deal apparently fell through, though Ecclestone and company are said to be keen on unloading their stake.
A bid anywhere near the 2015 figure would represent a huge shift in business strategy for Apple, a company known to purchase smaller firms and startups, not big-ticket items like a major racing establishment. As Saward notes, however, Apple would stand to gain valuable digital content rights for Apple TV .
More importantly, F1 buys access to the automotive racing world, particularly car makers and top-tier teams like Ferrari and Williams Martini Racing. Apple's rumored in-house electric car initiative, dubbed "Project Titan," would no doubt benefit a great deal from connections made at what many consider to be auto sports' top echelon.
Coincidentally, a successful bid also buys a seat at F1's governing body, the F?d?ration Internationale de l'Automobile (FIA), which also oversees the up-and-coming, and more germane to the so-called "Apple Car," Formula E electric car series.
Neither Apple nor the Formula One Group responded to requests for comment.
In a post to his blog on Wednesday, noted F1 blogger Joe Saward said the latest rumors out of Formula 1 headquarters in Princes Gate, England, suggest a new round of due diligence is currently underway in preparation of a possible bid from Apple.
Saward was unable to nail down details, or indeed procure any concrete information beyond hearsay, though it is widely known that "F1 Supremo" and British businessman Bernie Ecclestone is looking for a buyer. Last year, a report from The Sun indicated CVC, a holding company that purchased a controlling interest in the 40-year-old sport in 2007, agreed to sell its remaining 35-percent share for 6 billion pounds (more than $8.5 billion at the time) to unnamed parties.
That deal apparently fell through, though Ecclestone and company are said to be keen on unloading their stake.
A bid anywhere near the 2015 figure would represent a huge shift in business strategy for Apple, a company known to purchase smaller firms and startups, not big-ticket items like a major racing establishment. As Saward notes, however, Apple would stand to gain valuable digital content rights for Apple TV .
More importantly, F1 buys access to the automotive racing world, particularly car makers and top-tier teams like Ferrari and Williams Martini Racing. Apple's rumored in-house electric car initiative, dubbed "Project Titan," would no doubt benefit a great deal from connections made at what many consider to be auto sports' top echelon.
Coincidentally, a successful bid also buys a seat at F1's governing body, the F?d?ration Internationale de l'Automobile (FIA), which also oversees the up-and-coming, and more germane to the so-called "Apple Car," Formula E electric car series.
Neither Apple nor the Formula One Group responded to requests for comment.
Comments
heres a crazy idea.---Make a home device that is a computer, tv streaming device, music player, wifi router, voice Internet interface device, home data cloud storage all in one. You get it--- music player, tv controller, Internet interface...(channeling Steve Jobs).
oh and even more crazy--- make professional level(best in class) apps for photo editing, book creation, music player, movie editing... Oh wait...D'oh... Oh never mind, crawling back under my rock, wake me when it's over. /s
If this rumor were to be true it would get Apple into the game and make them a serious auto manufacturer in a matter of days.
Once they have Iovine and Ecclestone on the payroll, they just need to revive Dr. Strangelove... Then they could call their first own TV series The Goon Show.
chime in.
If any one can do it, it's Apple. In the future radiation could be something like lead, people will laugh at our tolerance.
I didn't say F1 would make Apple an auto manufacturer. I may have worded it strangely but I meant it would give them instant insight, connections and credibility.
Apple is a global player. Please try to think outside your box of the lower 48 states.
No other sport travels the world with so much profile as F1. Asia, S. America, Europe, Middle East. Where's NASCAR eh?
Personally, the sooner Bernie is put out to grass the better. He is holding back the sport and has done for years.
I stopped going to Silverstone years ago.
I might watch the occassional race on TV or listen on the Radio but not really a fan any more. Mind you, the racing between the two mercedes drivers this year has been good.
But, I now prefer vintage motorcycle racing. Very friendly atmosphere.
If it is profitable and props up Apple in the auto industry then go for it!
They could take a major interactive display from race to race where tens of thousands of fans could interact. I know some people like to think its just a bunch of rednecks turning left, but its the second most popular sport in the US, and people do watch from other countries (they also attend from other countries).
As far as Apple buying F1...well I think the same thing I just explained about Samsung sponsoring NASCAR applies to Apple buying F1. It would give them tons of exposure and possibly get their foot in the door with their Apple car. The average attendance of an F1 seems to be around 83,000 (from all over the world per race).
They'd have to spend money on this to make it successful, but it could work out very well for them. And, this is a global sport so it would give them even more exposure over NASCAR and it has a huge following. I see this as a win win for everyone.