ESPN will take over as Formula 1's broadcast partner in the United States, replacing NBC which has held the rights since the 2013 season.
NBC said in a statement that it chose not to renew its deal with the sport's owners, Liberty Media, because the broadcaster didn't want to "compete" against the rights holder for viewers – confirming speculation that Liberty Media is adding clauses to new broadcast contracts as it plans to launch its own OTT [Over The Top] online streaming service.
"Although we take great pride in having grown Formula 1's visibility and viewership since we became its exclusive U.S. media rights holder in 2013, this will be our last season with the series," the NBC Sports Group said in a statement.
"In this case, we chose not to enter into a new agreement in which the rights holder itself competes with us and our distribution partners. We wish the new owners of F1 well."
ESPN has signed a multi-year deal to show F1 in the US across its ESPN, ESPN2 and ABC channels – with all 21 races to be broadcast live.
"ESPN has had a long commitment to motorsports, and Formula 1 is a crown jewel in the sport," Burke Magnus, ESPN executive vice-president of programming and scheduling said.
"There are many passionate Formula 1 fans in the U.S. and we look forward to bringing the pageantry, spectacle and excitement of F1 to viewers across the ESPN platform."
The broadcaster confirmed it will show all practice, qualifying and races, to total more than 125 hours of programming during the season.
"We are excited about the return of the world's foremost motor racing platform to the ABC and ESPN platforms," added F1 managing director Sean Bratches.
"ABC's Wide World of Sports first started airing live grands prix in the early 1960's and this linear and digital partnership with ESPN represents a significant step forward in achieving Formula 1's aim of broadening the sport's appeal.
"The U.S. market is a very important growth opportunity for Formula 1 and we are looking forward to working with ESPN to ignite the growing fan interest."
