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A Band confirmed that it will continue broadcasting the Formula 1 next year. The broadcaster explained that it did not reach a consensus with Liberty Media, owner of the category, to conclude the termination. Therefore, it decided to fulfill the current contract until the end — without releasing the broadcast rights on open TV for Globo.
The broadcaster made the decision official in a note sent to the press this Monday morning (21). “Band announces that the broadcast of Formula 1 will continue to be carried out by it until the end of 2024 and throughout 2025, as per the current contract”, he informed.
“After conversations with Liberty Media, holder of the rights to the World Cup, a consensus was not reached regarding the cancellation, and the broadcaster opted to comply with the contract”, added the network.
How the TV News had said, it is more financially interesting for the broadcaster chaired by the Saad family to continue showing the races until the end of the contract.
According to sources, to anticipate the termination, Band would have agreed a debt payment schedule with Liberty, which would be more than US$15 million (R$84.5 million). It had also been negotiating to lower the 2025 rights to US$10 million (R$56.3 million).
Band executives deny this version. They say that the broadcaster is not in default, so much so that it will exercise its right to see the contract fulfilled until the end.
And Globo?
A Globo and Liberty had an agreement regarding the return of Formula 1 to the broadcaster’s programming. The conversations were advanced, and the Marinho family network was already starting to negotiate sponsorship quotas in the market – one had even been sold to a bet.
The agreement between the parties also included a defined number of races, a broadcast team and reporters who would be notified of which stages they would cover.
A Globohowever, depended on the termination of Band’s contract with Liberty Media. At the Upfront 2025 event, last Wednesday (16), the broadcaster took a prototype F1 car to the stage with the question “Will it be?”.
The broadcaster stopped showing Formula 1 in 2021. The measure was taken in the context of reviewing contracts for sports rights throughout 2020, when it was heavily affected by the Covid-19 pandemic. Without a Brazilian driver, the category saw its audience decrease in the country and was no longer highly attractive for open TV.
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