Viaplay, the European media heavyweight, is set to extend its deal to show motor racing’s iconic Formula 1 (F1) in the Netherlands.

The deal has been struck through to 2029, according to a range of media reports. The current agreement between Viaplay and F1 is set to expire at the end of this season, having run from the start of 2022.

The present deal, announced in May 2021 - with Viaplay only having gone live in the Netherlands in March 2022 - is reportedly worth just over $30 million per year.

The new tie-up is reportedly valued at $47 million per season.

It has been reported that despite talks between F1 and several other broadcasters, including Dutch pay-television network Ziggo and the streaming service Apple TV+, the motor racing series has opted to instead continue with Viaplay.

The Dutch publication Telegraaf has reported that an official announcement is expected later this month.

F1 in the Netherlands has seen a significant surge in popularity over the last few seasons, with the on-track success of Dutch driver Max Verstappen for the dominant Red Bull team a major reason for this.

In late September, Viaplay agreed to a deal with F1 to carry its F1 TV premium streaming service in the Netherlands.

Viaplay customers in the country are now able to access F1 TV Pro as part of their subscriptions.

The media giant and Verstappen also have a long-term partnership under which he appears in Viaplay programming such as documentaries and has an ambassadorial role for the service.

In addition to F1, Viaplay’s sports rights portfolio in the Netherlands includes English soccer’s Premier League, EFL Championship and Carabao Cup, Germany’s Bundesliga, and PDC darts.

April has already seen Viaplay and Dutch telecoms group Talpa unveil a sports-centric linear TV partnership.

This year’s Dutch Grand Prix in Zandvoort will take place on August 25.