Miami Dolphins owner mounts $8bn bid for F1 stake
Miami Dolphins owner Stephen Ross is reportedly preparing to mount an $8bn bid for a 35.5 per cent stake in F1 racing owners CVC Capital Partners, after teaming up with investors from Qatar.
Reports in the Financial Times and Reuters suggest that a consortium comprising Ross’s RSE Ventures and Quatar Sports Investments have already appointed investment banks to advise on the sale suggesting that a deal may be close.
Ross, a property billionaire, has expressed interest in bringing the sport to greater attention in the US where it is currently limited to a single race in Texas.
CVC has been the largest F1 shareholder for over a decade with Bernie Ecclestone looking after its interests. In recent years however its stake has been slowly wound down with Ecclestone himself mired in scandal.
Neither RSE or CVC would comment publicly on the rumours.