As the latest Premier League auction has shown, obtaining live TV rights to prestigious sporting events is expensive. It's unsurprising, therefore, to hear that the BBC is cutting back on its coverage to meet its new savings targets, starting with Formula 1. The broadcaster currently shows 10 races each season, as well as highlights from the other nine aired by Sky. It's now prematurely ending its contract, however, and giving Channel 4 the opportunity to take over from next year. Channel 4 is getting a three-year deal -- the amount that was left on the BBC's contract -- and has promised zero advertising breaks like its predecessor during each live race.