FILE PHOTO: Apple logo is seen on the Apple store at The Marche Saint Germain in Paris, France July 15, 2020. REUTERS/Gonzalo Fuentes/File Photo
(Reuters) -Apple has submitted a bid worth at least $150 million a year for the U.S. rights to stream Formula 1 races starting in 2026, Business Insider reported on Friday, citing a source familiar with the negotiations.
The iPhone-maker is poised to win the rights as the leading bidder, the report said, as Walt Disney's ESPN, which currently holds the rights, will not try to match or beat it.
Apple declined a Reuters request for comment, while F1 and its owner Liberty Media did not immediately respond.
The news follows Apple's success with its "F1: The Movie" film starring Brad Pitt, that has grossed over $300 million worldwide as of Friday, according to IMDb's Box Office Mojo.
ESPN holds the U.S. broadcast rights for these races through the year's season, though Reuters has reported in February that its exclusivity period to negotiate a new contract with F1 has expired.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shailesh Kuber)
