Stephen Ross, the owner of the Miami Dolphins, and the Qatari fund that owns Paris Saint-Germain soccer club, are in talks to acquire CVC Capital Partners' 35.5 per cent stake in Formula One .
Mr Ross's RSE Ventures and Qatar Sports Investments have teamed up with German businessman Dieter Hahn, said sources.
The discussions are in early stage and there’s no guarantee an agreement will be reached, they said. Other bidders may also be interested.
RSE and Qatar are prepared to pay as much as $8 billion for CVC’s 35.5 percent stake, according to reports.
Mr Ross, the founder of Related Cos. LP, bought half of the US National Football League’s Dolphins in 2008, and boosted his ownership to 95 per cent the following year.
Qatar has increased its involvement in sports while preparing to host the 2022 World Cup.
Formula One chief executive officer Bernie Ecclestone said he would sell his remaining 5 per cent stake in the series under the plan, although he would remain in his position if a takeover went ahead, it was reported. Mr Ecclestone, did not comment . A CVC spokesman declined to comment, as did a representative for Hahn. Qatar Sports Investments also didn't comment.
- Bloomberg
