"We don't have to do sports the way that they are. There's plenty of people doing that," Cue told CNBC's Alex Sherman at the Autosport Business Exchange NYC.

"We don't have to do sports the way that they are. There's plenty of people doing that," Cue told CNBC's Alex Sherman at the Autosport Business Exchange NYC.

Apple is about to announce a $140 million per year media rights deal with F1 for its U.S. rights, according to people familiar with the matter.