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Sources Say NBC Sports Outbid Fox For Multityear Deal For F1 Rights In U.S.

F1 is close to signing a multiyear U.S. rights deal with NBC Sports, according to several sources. The deal could be signed as early as this afternoon. NBC is expected to make a formal announcement early next week. Terms of the deal are not yet known, but sources said NBC outbid Fox. Sources valued Fox' previous deal in the low seven figures annually. The move ends a 16-year relationship between Fox and F1, as the racing circuit first sold its U.S. rights to Fox in '96. In the ensuing years, Fox showed a handful of races every year on its broadcast network, but  the majority were on Speed. Fox Sports VP/Communications Lou D'Ermilio said, "It's disappointing to learn that F1 has elected to move forward with a different media partner. Speed has been the U.S. voice of F1 since the mid '90s, and it is a passion for many people at the network. Fox Sports Media Group made what we believed to be a fiscally responsible bid based on the sport's current viewership levels, but F1 has elected to go in another direction. We wish them well."  NBC and F1 have agreed to a similar deal to what the racing circuit had with Fox, with the broadcast net carrying a small number of races each year and NBC Sports Network carrying the bulk of the schedule. The move helps NBC as it looks to build up the programming lineup on NBCSN with more live sports. The move also fits Fox Sports' strategy, as it is in the process of switching its Speed cable channel into an all-sports channel called Fox Sports 1. That channel would carry programming like MLB, college football and UFC. There is less of a need for racing programming like F1.

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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