July 11 (Reuters) - Apple ( AAPL ) has submitted a bid

worth at least $150 million a year for the U.S. rights to stream

Formula 1 races starting in 2026, Business Insider reported on

Friday, citing a source familiar with the negotiations.

The iPhone-maker is poised to win the rights as the leading

bidder, the report said, as Walt Disney's ( DIS ) ESPN ( DIS ), which

currently holds the rights, will not try to match or beat it.

Apple ( AAPL ) declined a Reuters request for comment, while F1 and

its owner Liberty Media did not immediately respond.

The news follows Apple's ( AAPL ) success with its "F1: The

Movie" film starring Brad Pitt, that has grossed over $300

million worldwide as of Friday, according to IMDb's Box Office

Mojo.

ESPN ( DIS ) holds the U.S. broadcast rights for these races

through the year's season, though Reuters has reported in

February that its exclusivity period to negotiate a new contract

with F1 has expired.