Formula 1 signs seven year contract extension with Sky Sports broadcaster

Formula 1 have announced a new deal with broadcaster Sky Sports. The TV company will remain the exclusive rights holder for at least another seven years as the sport continues to boom around the world. Sky Sports have held the rights for 11 years.

Sky Sports will also continue to broadcast in Italy, Germany and Switzerland. As has been the case for a number of years already, Sky will continue to broadcast every practice, qualifying and race session in the Formula 1 season. In the announcement, Sky confirmed that Home nation races and highlights of other races will remain on free-to-air.

"It's great news. Something that as you can imagine we were working closely for a long time. Through you, we are able to get into the houses of all the people who follow our sport. It is great for all of us. In terms of the strategic plan, we are solid with all the stakeholders for Formula One," the Formula 1 boss told the channel ahead of the first free practice session of the weekend in Singapore.

"The beauty is to share with you all of these things around the world and to capture living on the track and the culture from around the world. We all deserve together to make this story longer," he added.