|20 July 2016|
There have been rumours that tech giant Apple is gearing up for a multi-billion dollar takeover of Formula One (F1).
F1 blogger Joe Saward says the company “should be watched” on this as it could be a better fit than some might think, and could prove appealing to its vice president and “petrolhead” Eddy Cue.
With its work in developing a self-driving car progressing at pace, this is a move which would position Apple strongly within the automotive industry, giving it great access to the major car manufacturers .
Joe blogged: “None of this is more than speculation, but one can see a solid business case for making such a move.”
The potential cost of $8 billion dollars would be a drop in the ocean for the mega-rich company and as such could prove too tempting to resist.
Current owners CVC Capital Partners generate $900 million dollars per year from the sport.