Apple could be eyeing global sports rights for Formula 1

It looks like Apple will continue to be aggressive with investing in streaming.

Apple  (APPL) - Get Free Report is reportedly bidding for the global broadcasting rights to Formula 1 which would be worth as much as $2 billion per year, per the BusinessF1 magazine. 

That figure would be double what the Formula 1 Group is currently receiving from different networks across the world. 

Related: Why the NBA Is Working "Very Closely" With Apple

The Walt Disney Co.  (DIS) - Get Free Report owns the U.S. rights to F1 until 2025. Their deal is worth an estimated $75 to $90 million per year after it was extended last year amid reported bids from Netflix, Amazon, and NBCUniversal.

But F1 Group has deals with some broadcasters that stretch all the way until 2029, such as Sky Sports in the U.K. The differences in the rights deal expirations means that Apple will slowly gain exclusivity of the rights, starting at 25% in the first year of the deal and moving to 100% by the fifth year, according to the same report.

That puts the length of the potential deal at seven years.

Related: ESPN in partnership talks with Amazon, could become most expensive sports streamer

Apple's aggressiveness has reportedly come after the early success of its 10-year, $2.5 billion deal with Major League Soccer. Apple TV+ airs every match of the U.S. soccer league, and got a massive boost when legendary soccer star Lionel Messi moved across the Atlantic to play for Inter Miami in August.

The tech giant's streaming platform reportedly saw growth of 1 million subscribers in about a day due to the MLS partnership.

Apple also has a seven-year deal with the MLB to air "Friday Night Baseball" on their streaming service that is worth a reported $85 million per year.

Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.