BBC to give up coverage of Formula 1 to cut costs

Rival broadcaster ITV expected to take over the BBC's part of the F1 TV contract, which runs until 2018

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(Image credit: Paul Gilham/Getty Images)

The BBC is poised to give up its coverage of Formula 1 in a bid to cut costs, handing its part of a joint deal with Sky Sports to ITV until the end of 2018.

Walking away from F1 with three years of the contract still left could save the BBC millions, even though it will have to pay compensation to F1 supremo Bernie Ecclestone for breaking their contract.

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