According to reports in international media it appears likely that TV3 parent company Liberty Media is about to take a major stake in the company that owns and runs Formula 1.
It is an interesting play that broadcast companies are now starting to look at ownership of major sporting properties as opposed to just bidding for the rights to show content.
Whether this develops into a wider trend remains to be seen but it does raise the possibility that we could see live Formula 1 on Irish TV screens in future years.
Rugby and GAA
TV3 outbid RTE for the right to show exclusive live coverage of last year’s Rugby World Cup and are thought to be very active in trying to secure a place again at the GAA table the media rights for which are currently being negotiated.
They have long stated that it is strong content which will drive the company forward and in terms of strength there is little to compare to sport in all its forms.
The prospect of an Irish company ever bidding for rights in the sport is small but as part of such a strong global entity that can change.
Chopped and Changed
The UK rights to the sport have chopped and changed over recent years. The BBC took over shared coverage with Sky in 2009 and paid around £15 million per annum for the rights.
Pressure on the license fee meant they looked to exit the deal last year and Channel 4 stepped in to take the rights in a three year deal worth around £75 million.
Before their first live race though Formula 1 revealed that they had signed an exclusive deal with Sky to take effect from 2019.
Bidding War
That followed a bidding war with BT Sport and will produce increasing money for the sport, albeit at a time of lower audience numbers in a fragmented viewing sector.
Ireland’s relationship with motor sport has always been strong and the redevelopment and growth of facilities at Mondello Park, where Ayrton Senna cut his teeth in Europe is indicative of the fact that it still has a hold on our sporting imagination.
