The United States broadcast rights for Formula 1 could be set for a bidding war.According to a report from Samuel Agini and Michael Acton at the Financial Times, Apple is in discussion with the racing series to take over the rights to broadcast Formula 1 in the United States.

Apple is in talks to acquire the U.S. broadcast rights to screen Formula 1 when the contract becomes available next year, the Financial Times reported on Wednesday, following the success of Brad Pitt-starrer "F1: The Movie".

The iPhone maker is challenging Disney’s ESPN when the broadcast contract becomes available next year, according to two people familiar with the discussions.