David Brown

The world's most prestigious motorsport is giving itself away in the world's most lucrative media market.

At first glance, it looks like a terrible business decision.

Broadcasters in other countries pay millions to show Formula One, but Formula One has been here before.

Back in the early 80s, Bernie Eccleston sold European TV rights for a pittance because exposure mattered more than revenue.

Liberty Media?

They're taking the same approach in the U.S.,

You might call it the Facebook play.

Bill the audience first, worry about monetizing it later.

The ESPN deal keeps Formula One on American screens.

The revamped broadcast attract some new viewers, but not many.

Compared to the previous year on NBC, ESPN's first year of Formula One coverage goes up by just 3%, far short of what Liberty Media had hoped for.

Still, there's no sense of panic because one major piece of Liberty's media strategy hasn't launched yet.

It's about to open the hood on Formula One and give fans something they've never had before.

Unprecedented backstage access.

I felt like I wasted 3.5 years for something that wasn't real.

It's April 29th, 2018, the day of the Azerbaijan Grand Prix.

Two blue and red Formula One cars rocket down the long main straight in the city of Baku.

One is driven by Red Bull veteran Daniel Ricciardo, the other by his young teammate, Max Verstappen.

Ricciardo tucks into Verstappen's slipstream, the turbulent air pulling him forward at nearly 200 miles per hour.

Ricardo darts right, searching for a gap.