Full Breakdown
Formula 1 Extends Broadcast Partnership with ESPN in Latin America and the Caribbean
2/26/2026, 8:55:45 PM
Overview of the Partnership Extension
Formula 1 has announced a contract extension with ESPN Inc. that will ensure the championship is broadcast across 18 countries in Latin America and the Caribbean, excluding Mexico and Brazil, until the end of the 2028 season. This renewed agreement allows ESPN to continue airing every practice session, qualifying round, sprint race, and Grand Prix, as well as support races including Formula 2, Formula 3, the F1 Academy, and the Porsche Super Cup.
Growth of Formula 1 in Latin America
The partnership extension comes amid significant growth for Formula 1 in the region, which now boasts over 150 million fans—a 5% increase from 2024. Notably, 45% of this fanbase is female, and 43% are under the age of 35, indicating a diversifying audience. Argentina has emerged as a particularly strong market, with 17.2 million fans, making Formula 1 the most popular global sports league in the country, surpassing both the National Football League (NFL) and the National Basketball Association (NBA). This surge in interest is partly attributed to the rising profiles of drivers such as Franco Colapinto, Gabriel Bortoleto, and Sergio Pérez.
Official Statements on the Partnership
Ian Holmes, Chief Media Rights and Broadcasting Officer of Formula 1, expressed enthusiasm about the continued collaboration, stating, “ESPN has been a trusted broadcast partner for many years, so we are excited to continue our collaboration, and take our sport to even more fans as we witness incredible growth across Latin America and the Caribbean.” He highlighted the role of ESPN in delivering world-class coverage and noted that the upcoming 2026 season will introduce new regulations expected to enhance competition and excitement.
Michael Walters, Vice President of Programming and Acquisitions at ESPN, emphasized the strategic importance of the partnership, stating, “The extension of this agreement with Formula 1 strengthens a strategic alliance that reinforces ESPN’s commitment to excellence in sports content.”
Implications of the Deal
This extension solidifies ESPN's position in the Latin American market, even as the broadcaster lost exclusive rights to Formula 1 in the United States to Apple, which signed a five-year deal valued at approximately $750 million. Despite this loss, the renewed agreement in Latin America underscores a strong working relationship between Formula 1 and ESPN's parent company, Disney.
Conclusion
With the partnership now secured through 2028, Formula 1 and ESPN are well-positioned to capitalize on the sport's growing popularity in Latin America and the Caribbean, ensuring comprehensive coverage for fans in the region as they prepare for the upcoming 2026 season.
