Austria secures lower fee for F1 TV rights

Apr.2 (GMM) F1 is staying on free-to-air television in Austria, after the broadcaster ORF renewed its deal with the sport.

Late last year, we reported that ORF, a long-time F1 broadcaster, had not taken a decision about the future amid claims it was no longer willing to pay a speculated EUR 15 million per year.

But a report from Bahrain by the Austrian news agency APA said ORF has now renewed its contract for three more years.

The report claimed the public broadcaster had successfully negotiated its fee down to EUR 10 million.

"I am pleased that we will continue to have formula one," said ORF director general Alexander Wrabetz.

"The price of the rights is in line with our reasonable expectations, as there was understanding of the changing conditions on the part of formula one," he added.

Amid declining interest in F1 among the German-speaking world, the German broadcaster RTL also recently negotiated down the price of its broadcast deal.