Are Apple Computer Prepping For A Formula One Bid?

Rumors have been circulating since Wednesday that tech giant Apple Computer could be about to buy a major stake in Formula One.

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Regarded Formula One blogger Joe Saward wrote on Wednesday that another new round of due diligence is currently underway in the preparations of a possible bid from the makers of the iPhone and iPad. Apple could certainly afford to make the play, as Saward points out.

“The whisper is that the latest bidder is Apple Inc., which is a company with $161 billion in net cash at the moment,” he wrote.

While everyone are privy to the endless stream of cash Apple have, what those in the F1 realm may be unfamiliar with is that the company also has a prototype car in the early stages of development – as well as a TV platform in need of more content.

Nicknamed “Project Titan,” Apple’s car development could likely use the access and development that could be provided from being associated with brands such as Ferrari and McLaren.

Additionally, such a deal could give Apple TV exclusive digital content rights to the sport’s coverage.

Apple’s alleged interest comes at a perfect time — a large chunk of the 40-year-old sports group is very much available for purchase.

Formula One supremo Bernie Ecclestone, who is 85 years old, stated in March that there were two parties interested in buying a leading stake in the sport, for around 6 billion Euros.

“There are people who want to buy,” Ecclestone reportedly said via UK’s The Sun. “Actually, two of the people have agreed [on] the price. It’s just a question of whether CVC [a holding company with a 35% stake in F1] wants to sell or not.”

However much business sense it might make, Apple making such a move would be a rather unorthodox purchase for the company. It traditionally has sought to seek its capital into much smaller startups and fold them into its business instead of doling out billions upon billions for larger companies.

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