It may seem like an unlikely partnership at first, but with Formula 1 still on sale, and Apple looking to get into the car market, it may not be that strange after all. Formula 1 has been struggling financially for some time now and CEO Bernie Ecclestone has been trying to publicly sell the company since 2014 for a price or around $8.5 billion.
However, as of yet no one has jumped in to take over. It was thought that a deal was being made with a group of investors led by Qatar Sports Investments, owners of French Ligue 1 team Paris Saint-Germain, but since then another name that has joined the party as a serious contest to buy Formula 1 is Apple.
Yes, it may sound odd at first, but if you think about it a little more than this purchase could be just what Apple need for them to enter into the automotive market, which is what they are wanting to do with their Project Titan and the Apple Car. Well it is no secret that Apple can afford the acquisition, with over $161 billion in net cash currently, so it is very possible indeed that this will go ahead.
If Apple do take over the racing group they will have the added benefits of acquiring the relationships that have been formed with high class auto manufacturers such as Ferrari, Williams and McLaren as well as automatically gaining a seat at the table with the FIA. This in itself would be very helpful for Apple as the FIA also oversee Formula E – the electric powered racing championship.
It is quite a large investment for Apple to make and will be their biggest purchase to date, second to Beats Electronics in 2014 which was $3 billion. But, if they pull it off then in 2020 when the Apple Car is due to emerge it may be a whole lot cooler than ever now. Next time you sit down to watch the Formula 1 racing, just take a moment to think of Apple and how they may soon be on the scene.
Also having exclusive streaming rights to Formula 1 would be an obvious blessing for the Apple TV.
Source; Formula 1 blogger Joe Saward
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