Qatar could buy stake in Formula One
RSE Ventures is teaming up with Qatar to buy a 35.5% stake in the holding company that owns Formula One in a $7bn-$8bn deal, a source familiar with the matter told Reuters.
RSE, which owns US football team Miami Dolphins, is looking to acquire the stake from buyout group CVC Capital Partners Ltd.
CVC owns a 35.5% stake in F1, which is headed by billionaire Bernie Ecclestone.
Dieter Hahn, chairman of the supervisory board of German sports marketing media group Constantin Medien is also involved with the investment consortium, the source said, although Reuters could not immediately verify what his precise involvement was.
“The key to unlocking this deal is that under Bernie, F1 doesn’t do much TV rights marketing. Hahn will help with that,” the source said.
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Source News: Gulf Times