News Details
US-Qatar led group looking to bid for control of F1
An American-Qatari led investment and sporting group is looking to buy a majority stake in Formula 1 according to well-placed sources. Stephen Ross, owner of the Miami Dolphins American football team and RSE Ventures, is working with investors from Qatar to bid for CVC Capital Partners' 35.5 per cent stake in the holding company that currently owns F1. It's believed the deal could be worth upwards of $8 billion (£5bn) according to The Financial Times. Both CVC and RSE Ventures declined to comment on the reports, whilst Qatar Sports Investments was unavailable for comment. The move, if successful, could see F1 build a stronger presence in the American market, something which...
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9y ago from GrandPrixTimes.com
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