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Is Apple the next owner of Formula 1?

2016-07-15 12:55

SURELY NOT? A report suggested that technology company Apple has been linked with purchasing the rights to Formula 1. Image: AP / Ng Han Guan

San Francisco - Apple, the famous American multinational technology company, has been linked with buying Formula 1's commercial rights.

Potential buyers of the majority stake in the sport - currently owned by CVC - have been the subject of speculation for some time, but it is the first time Apple, the famous Steve Jobs-founded creator of the iPhone, has been mentioned.

'No solid evidence to support rumours'

The rumour began to do the rounds this week after the report of an F1 blogger, but the technology media world reacted with scepticism.

'Apple Insider' said the blogger was "unable to nail down details, or indeed procure any concrete information beyond hearsay".

Business Insider said: "There's no solid evidence to support these rumours at this stage", adding that buying F1 would be "unusual" for Apple to pay billions for a company in the sporting realm.

But it is suggested that owning F1 would help its so-called 'Apple Car' project, whilst control of a global sport like F1 might give Apple a boost with its Apple TV service.

Publications contacted both Apple and the Formula One Group, and neither responded.

Here's how Twitter reacted to the rumours: 

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