Formula 1’s free-to-air coverage in the United Kingdom could switch from the BBC to ITV as early as 2016 according to a report from Broadcast Now.
It’s known the British broadcaster met with Bernie Ecclestone in an attempt to renegotiate its contract, which is due to run until 2018, as it attempts to slash costs by £150 million [$223m] due to a funding shortfall arising from a drop in the number of people owning a television and an iPlayer loophole.
The corporation has already dumped the Grand National, exclusivity on rugby’s Six Nations and golf’s Open Championship, but further savings are needed and it’s thought F1 could be the next victim.
The BBC currently shows half the races live and the remainder in a highlights package several hours later, as part of a deal it struck with Ecclestone and Sky TV.
However in recent talks, Ecclestone refused to renegotiate, meaning the BBC must continue to show F1 until at least 2018, or pay an exit fee, which is likely to run into millions.
That would however be far less than its contract to broadcast F1, which is believed to be in the region of £10m a season, therefore dropping coverage in 2016 would save the BBC £30m, excluding what it spends on producing coverage.
Broadcast Now reports that ITV could be open to negotiations with the BBC, Ecclestone and Sky, to take over the contract as it looks to lure male viewers back following the loss of much of its football coverage to BT Sport.
ITV previously broadcast F1 between 1997 and 2008.
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