Apple has submitted a bid worth at least $150 million a year for the U.S. rights to stream Formula 1 races starting in 2026, Business Insider reported on Friday, citing a source familiar with the negotiations.

ESPN has remained in the mix for retaining U.S. rights, but sources say Apple's offer greatly eclipses the sports media giant's bid

The bid puts F1 on track for a significantly more lucrative deal than it has with its current partner, Disney’s ESPN.