NBC Sports Group signed a four-year deal with Formula One for the exclusive U.S. media rights to the world's most popular global motorsports series.
The deal, which begins next season, will provide over 100 hours of programming across NBC and cable channel NBC Sports Network.
Jon Miller, president of programming for NBC Sports and NBC Sports Network, said it gives the network content to grow its motorsports presence. NBC Sports Network owns the rights to the bulk of the IndyCar Series schedule.
"This is an opportunity for us to get further engaged in open wheel racing and really acquire some great live first run content," Miller said Sunday night. "This gives us quality events to put on our air, and this is a sport with a huge following around the world that we feel we can grow in this country."
The agreement between NBC Sports Group and Formula One Management brings an end to the 17-year run cable channel Speed had as the U.S. rights holder to F1. A spokesman for parent company Fox Sports said on Friday that Speed had been outbid by another network during contract negotiations.
Miller said only that NBC Sports Group had made "a significant financial commitment" and that a dialogue that began several months ago with FOM rapidly came together in this four-year agreement.
"NBC and its various media assets have a huge profile throughout the United States and I am obviously delighted to have concluded this agreement," Bernie Ecclestone, Formula One Group CEO, said in a statement.
