Is Apple Seriously Considering Purchasing Formula One?

18th July 2016 SWVaux

The title may leave you flabbergasted but apparently, Formula One could experience one of its biggest shake-ups in recent memory.

According to highly-regarded Formula One blogger Joe Saward, Apple is interested in purchasing the world’s leading open-wheeled racing serious, as its move into the automotive realm strengthens.

F1 supremo Bernie Ecclestone confirmed last year that the sport is indeed up for sale and would be sold for the right figure. That figure apparently sits around £6 billion ($8.5 billion) and is well within Apple’s budget.

As a matter of fact, the technology company has $161 billion in net cash currently so purchasing the sport wouldn’t even make a dent in that figure. The benefits? They’d include providing Apple with the perfect spot to promote its upcoming electric car, help it build relationships with competing manufacturers and boost demand for the Apple TV.

In his blog post, Saward says “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,” he said.

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