Key Points
Formula 1 secured a new streaming rights deal with Apple that substantially exceeds ESPN’s current deal.
The sports racing stock is near a key price point, showing potential for a major trend reversal.
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Various professional sports teams allow fans to invest in them individually through the stock market. However, when it comes to investing in an entire league's stock, there are very limited options. Formula 1 (NASDAQ: FWON.K) is one of those rarities, and after reaching landmark achievements, its stock could be one of the more underrated sports stocks.
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Formula 1 secures deal with Apple for exclusive streaming rights
On October 17, Apple (NASDAQ: AAPL) announced its five-year partnership with Formula 1, where the racing company will stream its races exclusively on Apple TV starting at the beginning of 2026. The deal is estimated to be worth approximately $750 million, averaging out to $150 million per year. It's significantly higher than the $90 million ESPN currently pays annually for the league's streaming rights, which is set to expire at the end of 2025.
Formula 1 and Apple have conducted business before, as Apple Original Films produced "F1 The Movie," a fictional racing movie that featured Brad Pitt in the lead role. The blockbuster movie was a major success for both companies, as the movie grossed about $626 million worldwide as of October 17, making it the highest-grossing sports movie of all time. After its initial theater release in June 2025, it was rereleased in August due to its success, and will now be released again in December, but this time on Apple TV.
FWONA vs. FWONB vs. FWONK
To buy Formula 1 stock, investors have to purchase shares of its parent company: Liberty Media Group. Three different types of Liberty Media Group stock are directly tied to the racing subsidiary: Series A (FWONA), B (FWONB), and C (FWONK).
Series A and C are both available to trade on the NASDAQ, but FWONA offers one vote per share on corporate matters. FWONK shareholders have no voting rights, but the stock is the most common type for retail trading. FWONB, which offers 10 votes per share, is only offered over-the-counter (OTC), which comes with risk because of having to purchase from unlisted exchanges. On top of that, 97% of that stock is already held by company insiders, so its shares are less available. Since FWONK is the most popular type of Liberty Media Group stock among retail traders, this article will focus on analyzing FWONK.
FWONK fell to a major support zone
After reaching a record high in early October 2025, FWONK shares had a steep decline in the following weeks, reaching a near 5-month low of $94.30 on October 24, the lowest since May 30. While the drop can be alarming, $95 has been a major support zone, and the previous two times that it touched that area, it bounced from that zone and went up to hit record highs. A recent SEC filing showed that TD Asset Management, a major investment firm, purchased 150,295 FWONK shares in its Q2 2025, now estimated to own over $115 million worth of shares.
Should you buy FWONK right now?
With the stock currently not overbought, hitting a key support area, and garnering increasing interest from institutional investors, FWONK is a buy for both the short and long term. The league overall is still growing, and both Formula 1 and Apple are assuring consumers that their new streaming deal will take the sport to bigger heights starting in 2026.
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Ade Hennis has a position in Apple. He does not have positions in FWONA, FWONB, or FWONK. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
