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Apple pays $750 million for streaming coverage of American Formula 1

    The United States Grand Prix takes place this weekend at the Circuit of the Americas in Texas, and this morning Formula 1 took the opportunity to announce a new broadcast deal for the sport in the US. From next year, F1 will no longer be broadcast on ESPN; it's moving to Apple TV in a five-year deal worth $750 million.

    Apple boss Tim Cook has appeared at F1 races in the past and released Apple earlier this year F1: The moviestarring Brad Pitt as a 50-year-old driver who improbably gets a second bite at the cherry, 30 years after a brutal crash seemingly ended his F1 career.

    But securing the rights to the sport itself means Apple has secured a very fast-growing series, with races almost every week. Currently the sport has expanded to 24 races per year.

    “We are not strangers to each other, having worked together to create for the past three years F1: The moviewhich has already proven to be a big hit around the world. We have a shared vision to bring this great sport to our fans in the US and entice new fans through live broadcasts, engaging content and a year-round approach to keep them hooked,” said Stefano Domenicali, F1 President and CEO.

    Apple says Apple TV subscribers will be able to watch every practice and qualifying session, as well as all sprint races and Grand Prix. And “select races and all practice sessions will also be available for free on the Apple TV app throughout the season,” the company said.