The five-year deal for an undisclosed fee marks F1's return to BBC screens 12 years after it switched to ITV. The contract covers all platforms and will see F1 broadcast on the BBC Sport website, as well as on TV and radio.
F1 supremo Bernie Ecclestone said he was "delighted", adding: "The BBC has some innovative ideas to consolidate and expand our UK fan base."
How good a bit of news is this! I've loathed ITV's coverage ever since they won the rights from the BBC in the 1990s - there was nothing like sitting down and watching an entire race, without adverts, and with quality presenters. Unfortunately Murray Walker has retired (maybe he'll stage a return to broadcasting?) but there's still a raft of quality presenters to back up the coverage.
This also means it'll (likely) get an HD simulcast for the countries filming in HD as well! (America, UK, Germany, some other EU countries and quite possibly some of the Asian countries).
The total lack of adverts is more than adequate enough to satisfy me though. Oh yes, I'm so happy! This has made my week, if not my month. I really do love the BBC right now, this makes my license fee so much more worth paying. (I already pay it anyway because I think it's stonkingly good value for money, but this will secure my payment for at least the next five years!)