It is claimed that Netflix is preparing to bid for the rights to broadcast F1 in the US as ESPN's current deal comes to an end.

Long gone are the days when ESPN could buy the rights for a song. It's most recent deal with F1, and which runs out at season end, is understood to be around $85m (£68m) a year.

Previously, those broadcasters that were even interested in broadcasting the sport into American homes agreed deals with Formula One Management for a fraction of that.

Now, however, on the back of the current boom, not to mention Liberty Media's hunger for cash, ESPN is likely to face stiff competition for the broadcast rights from 2026.

Indeed, The Times claims that Netflix is looking to make a bid, the streaming giant having seemingly signed up ESPN's vice president of production, Kate Jackson, who was previously in charge of the broadcaster's F1 coverage.

While Apple is also said to be looking at making a bid, there is no mention (yet) of Amazon, which previously lost out to ESPN during the last round of negotiations in 2021.

Of course, Netflix has played a part in the sport's boom in the US, having broadcast Drive to Survive, the behind the scenes documentary series which brought the sport to a whole new audience during the dark days of lockdown.

Like its great rival Amazon, Netflix has ventured into live sport's coverage, both with mixed results, and is seeking to expand further. However, with the deal only for the rights to broadcast in the US this is thought to be why Apple has thus far remained silent.

"We believe that the live events business is where we really want to be and sports is a very important part of that but it is a part of that expansion," said Netflix co-chief executive Ted Sarandos earlier this year.

However, he admitted: "It's really important that those economics do work. And the big league sports, full league, full season economics, are very hard to make work."

While F1 will only be interested in the money being offered, fans in the US will want to know what sort of coverage they will be getting. Currently ESPN uses Sky's feed, which has led to complaints - in the US and various other countries that take the feed - over its bias towards British drivers, not to mention the lack of decent, independent build-up and post-race analysis.