The sports broadcaster ESPN Star Sports (ESS) acquired five year media rights to broadcast the FIA Formula One World Championship, from the Formula One Management (FOM) across multiple platforms in 24 Asian markets, including India on Wednesday.
The renewal of contract for telecast rights and additional rights for other platforms like Internet, mobile and radio was acquired at a cost of over $100 million, according to industry sources. The acquisition becomes significant particularly, as India will for the first time host the F1 championship in 2010.The rights would cover ESS’ footprint in Asia.
Commenting on the development, Manu Sawhney, managing director, ESPN Star Sports, said, ?We are delighted to continue our 17-year strong partnership with FOM through this agreement. We are very confident that now with many new platforms and avenues including Internet, mobile and radio, F1 fans in Asia can look forward to the most comprehensive experience with us?.
ESPN feels that with the addition of the maiden night race scheduled to be held on September 28 in Singapore and the introduction of races to India and South Korea in 2010, F1 profile and popularity amongst Asia’ sports fans is growing continuously.
Bernie Ecclestone, CEO, FOM, said ? Formula One has enjoyed unprecedented growth in popularity throughout Asia over the last few years and we feel that this comprehensive new agreement with ESS will help continue this trend?.
In addition to the live coverage and programmes related to race analysis , ESS plans to extended offerings on its online platform, http://www.espnstar.com .