ESPN remains unlikely to renew its Formula 1 deal despite the circuit’s CEO saying that the sides are still in talks. Plus: resolutions of the legal disputes between the Nationals and Orioles and between FSU, Clemson and the ACC.
ESPN remains unlikely to renew F1 deal
ESPN remains unlikely to renew its Formula 1 media rights deal, despite recent comments by F1 president and CEO Stefano Domenicali indicating that the sides are still in talks, according to John Ourand of Puck. Ourand reported last month that ESPN had informed F1 that it will not be bidding on the rights. His report Monday was less definitive, but still described ESPN and F1 as being “so far apart” that network executives are “pessimistic” a deal could be reached.
At issue is the price tag Formula 1 is seeking. The circuit, per Ourand, is looking to double its current $85 million/year rights fee to the $160-180 million range. As may be no surprise, ESPN is seeking to make what a source described as the responsible financial decision.
Nationals, Orioles, end dispute; Nationals to sell own rights after ’25
Major League Baseball announced Monday that the Washington Nationals and Baltimore Orioles have resolved the legal dispute regarding the Nationals’ local media rights, and that the Nationals will be able to freely negotiate a local rights deal after the conclusion of the coming season.
The Orioles have controlled the Nationals’ media rights since the team relocated from Montreal in 2005, a unique arrangement that was necessary in order to gain permission from Orioles ownership to move a team to their territory. The teams have been at odds since 2012, when the Nationals accused the Orioles of valuing their media rights for less than they were worth.
FSU, Clemson, to settle ACC dispute in exchange for ratings-based revenue split
Florida State and Clemson are expected to settle their legal disputes with the ACC in exchange for a new revenue distribution model that is based on television viewership, per multiple reports Tuesday. Under the new model, the majority of league revenue — 60 percent, per ESPN — would be distributed based on a five-year average of viewership. FSU and Clemson are the two highest-profile football schools in the ACC and generally play in the conference’s most-watched games.
The ratings calculation will also include basketball, wherein Duke and North Carolina are by far the most prominent and highest rated schools.
The settlement is also expected to result in a reduction of financial penalties for teams leaving the conference.
