It’s a shame, but it’s been on the cards for ages – I doubt it’s news to anyone the current government it’s keen on the Beeb, it’s one of the few remaining non-right of centre broadcasters so they’re not “on message” with No10 but I think more than that they’re a big thorn in the side of thier financial backers who’d all like it gone, or at least privatised and made to be pay to view like them.
Ultimately F1 is very expensive, I tiny drop in the ocean compared to Football, ironically thanks to Sky, but expensive all the same and whilst for most outlets that investment is sound because of the viewing figures it gets, to the Beeb it’s just expensive.
I hear C4 will at least show the races without ads and as they’re a commercial outshoot of the BBC anyway I doubt much will change for end users – they may even take the current presenters over.
You never know, the current government may not win in 2020 which will likely mean a more secure future for BBC and they might bid again – I just hope ITV never get it again – admittedly they had the darkest days of F1, the 3 on track passes a season years – but he ads were crap.