Formula One supremo Bernie Ecclestone has warned the BBC that they cannot cut their TV contract short, according to the Daily Mail.
The commercial rights holder and boss of Formula One Management made the comments just a day after it was reported that the BBC were planning on handing ITV their terrestrial TV broadcasting deal in order to make drastic cuts to their sports budget.
But Mr Ecclestone told the Press Association that he will not permit such an agreement to take place – with the BBC’s shared contract with Sky scheduled to run until the end of 2018.
“The bottom line is that they are cutting back on all types of sport and if we really, really, really had to, we’d say “you have got a contract and you better get on with it.” They can’t leave the contract early.”
The BBC bought the British Formula One TV rights from ITV in 2009, before negotiating a deal with Sky Sports to show half of the season live and the other half with a highlights package – beginning in 2012. Despite the revised terms saving the BBC £50 million a year, the current £20-60 million a season it spends is still viewed as too much for the uniquely funded corporation.
The BBC refused to comment.
