Formula 1 has been for sale for about a year. It has been reported that Apple is in serious discussions to purchase. Bernie Ecclestone is more than ready to sell the “financially struggling” series. It has been offered for over $8.5 billion. Could Apple’s F1 purchase pave the path to the Apple Car?
Maybe the surprise Formula 1 visit at the recent Apple Worldwide Developers Conference was a hint? The news came from well-known and reputable Formula 1 blogger, Joe Saward. He posted:
“There are whispers from Princes Gate, home of the Formula One group, that there is another round of intensive due diligence going on, which suggests that there is another serious bidder emerging.”
“The whisper is that the latest bidder is Apple Inc., which is a company with $161 billion in net cash at the moment.”
Apple’s purchase of F1 would immediately bring the company into the worldwide automotive spotlight. The company would have a very high-profile, upper echelon platform from which to move toward and promote the Apple Car. Opportunities would flourish with top, premium automakers like Ferrari and McClaren, among many others.
Formula 1 is on the top list of the most watched sports in the world. Apple TV could benefit from streaming rights. Also, Apple would secure a spot at the table of the Fédération Internationale de l’Automobile (FIA) that also oversees the Formula E electric car racing series. It likely wouldn’t be long before Apple made a presence there as well.
“Apple is on the verge of launching into the world’s automotive markets, with an electric car that remains a secret, although it is hard to hide such a project when you hire more than a thousand engineers to work on it.”
“The Apple Car is expected to appear by 2020. Thus, there are three elements that would make the purchase of F1 a logical step of Apple. It can afford it, it can boost sales of Apple TVs and get people thinking about Apple in relation to cars.”