BBC relinquish F1 to Channel 4

Channel 4 will become the home for Formula One on terrestrial television in the UK. From 2016-18, they will be showing 10 races live, as well as highlights of all Grand Prix (mirroring BBC’s current contract).

The financial struggles of the BBC has meant that the company has made budget cuts of some £35m, and sport is being hit the hardest, meaning the BBC have had to terminate their contact early.

"The current financial position of the BBC means some tough and unwanted choices have to be made," said BBC's Director of Sport Barbara Slater, “A significant chunk of BBC Sport's savings target will be delivered through the immediate termination of our TV rights agreement for Formula One.

"Any decision to have to stop broadcasting a particular sport or sporting event is hugely disappointing and taken reluctantly. There are no easy solutions; all of the options available would be unpopular with audiences."

Bernie Ecclestone said: “I am sorry that the BBC could not comply with their contract but I am happy that we now have a broadcaster that can broadcast Formula One events without commercial intervals during the race.

“I am confident that Channel 4 will achieve not only how the BBC carried out the broadcast in the past but also with a new approach as the World and Formula One have moved on.”

Channel 4 are well known for their horse racing coverage, and BAFTA-winning coverage of the 2012 Paralympic Games and cricket coverage.

“Formula One is one of the world’s biggest sporting events with huge appeal to British audiences,” said David Abraham, Channel 4 Chief Executive, “I’m delighted to have agreed this exciting new partnership with Bernie Ecclestone to keep the sport on free-to-air television.”

Details for Channel 4’s scheduling and team is expected to be announced in early 2016.

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