Apple might buy Formula One

They have lots of money, and it is for sale, apparently…

Formula One is going through a very intensive due diligence that might lead to a sale
Published By: Ken Bock on July 15, 2016 09:40 am EST

Apple Inc. (NASDAQ:AAPL) has always stayed clear from making big name acquisitions and has targeted smaller purchases which can be slowly incorporated into its business model. However, this trend could be changed as the latest rumors speculate Apple’s current discussion with Formula One for a proposed takeover.

Joe Saward, one of the most well-respected Formula One insiders, stated that there are “whispers” about Formula One going through a very intensive due diligence which could possibly lead the world’s fastest single-seat auto-racing company to a sale. Mr. Saward believes that Apple is the latest company that has joined a bidding war to takeover Formula One.

Neither Apple or Formula One have responded to the proposed takeover and at first glance, the move might seem absurd but there is good reason to believe that the proposed takeover would benefit Apple in more than one way. Firstly, the company’s work on self-driving car is a poorly kept secret. Joe Saward believes that it might look to associate itself to one of the most highly respected and well-known auto brands to make convenient transition to auto vehicle manufacturing.

Secondly, Apple has more than necessary cash reserves to make the takeover a possibility. Thanks to its ample cash reserves, it would have absolutely no problems meeting the $8 billion market value of Formula One. Lastly, Joe Saward believes that by purchasing Formula One, it might look to boost the sales of Apple TV. Apple is rumored to look for over-the-top subscription service for its Apple TV and exclusive broadcasting rights to Formula One might just be the perfect opportunity.

Apple has experienced poor sales in the current calendar year and it needs to shake up in order to have a stronger 2017. Purchasing Formula One might just be the perfect kickstart needed to return Apple to its winning ways. Nothing is concrete yet and it is possible that these “whispers” might never amount to any takeover, but we will keep you updated with whatever news comes out from the high-speed Formula One world.

http://www.thecountrycaller.com/49290-apple-inc-aapl-reportedly-looking-to-takeover-formula-one/