Formula One have signed one of the most lucrative TV rights deals in history – worth £1billion – to be broadcast on Sky until 2034.

Despite having an existing contract until 2029, Daily Mail Sport learned that both parties were keen to secure a longer-term arrangement rather than follow the US model of streaming via Apple, who produced F1: The Movie – at £634million, the biggest-grossing film of 2025.

When it was announced last October that Apple would be F1’s exclusive American broadcast partner for five years in a contract worth £560million, Sky bosses were keen to ensure that they would not be usurped from their position in the UK and Europe.

The £200m-a-year deal, running from 2030 to 2034, is an increase on the £129m-a-year contract worth £900m that was signed covering 2023 to 2029. 

The most recent TV rights deal for the Premier League - between Sky and TNT - was worth £6.7bn across four seasons.

Sky executives beat a path to the door of F1’s chief executive Stefano Domenicali to prolong their coverage that started in 2012, and which has its own dedicated channel.

The F1-Sky tie-up has made household names of commentator David Croft, presenter Simon Lazenby and reporter Ted Kravitz. Leading pundit Martin Brundle joined the satellite broadcaster from the BBC and remains its most respected voice.

It is believed Domenicali did not think the European market was ready to move away from TV viewership and instinctively wanted to stick with the tried-and-trusted Sky, who were themselves keen to harness themselves to a sport that is largely based in the UK and has four British drivers on the grid.

Talks between Domenicali and Dana Strong, chief executive of Sky Group, reached a conclusion over the last few weeks.

Sky Italia have also signed an extended contract running until 2032.