The Sunday Times in England is claiming that the BBC has decided to drop its Formula 1 coverage after the 2013 season. The story quotes an unidentified source saying that the corporation will not bid to extend the current deal as it aims to trim its budgets.
The BBC took over F1 from ITV in 2009 and its F1coverage is beamed all over the world and has around 50 million viewers, globally. However there is no question that the annual cost of the deal with Formula One Management is expensive for the public service broadcaster and current domestic viewing figures are around the six million mark, which is slightly up from last year.
It should perhaps be noted that The Sunday Times is a newspaper owned by News Corporation, which is bidding to buy the global commercial rights of F1 from CVC Capital Partners. Clearly the loss of the BBC will impact on the price of such a deal.