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| Formula 1: US-Qatari investors 'to bid for sport' | |
| (about 9 hours later) | |
| The Miami Dolphins American football team owner Stephen Ross is reportedly working with investors from Qatar to buy a stake in Formula 1 racing. | The Miami Dolphins American football team owner Stephen Ross is reportedly working with investors from Qatar to buy a stake in Formula 1 racing. |
| RSE Ventures and Qatar Sports Investments plan a bid for CVC Capital Partners' 35.5% stake in the holding company that owns F1. | RSE Ventures and Qatar Sports Investments plan a bid for CVC Capital Partners' 35.5% stake in the holding company that owns F1. |
| The Financial Times and Reuters said the deal could be worth up to $8bn, and help build F1's presence in the US. | The Financial Times and Reuters said the deal could be worth up to $8bn, and help build F1's presence in the US. |
| CVC declined to comment, while RSE said "we can't comment at this time". | CVC declined to comment, while RSE said "we can't comment at this time". |
| RSE was founded by property billionaire Ross, whose company has been in talks with ex-England footballer David Beckham about bringing a Major League Soccer team to Miami. | RSE was founded by property billionaire Ross, whose company has been in talks with ex-England footballer David Beckham about bringing a Major League Soccer team to Miami. |
| F1 currently only has one race in the United States on its calendar, in Texas. | F1 currently only has one race in the United States on its calendar, in Texas. |
| But the sport may have a better chance of building a stronger American presence with the backing of a businessman already established in the US sports industry. | But the sport may have a better chance of building a stronger American presence with the backing of a businessman already established in the US sports industry. |
| CVC, whose interests in F1 are looked after by Bernie Ecclestone, has been F1's biggest shareholder for about a decade, although in the last few years it has reduced its stake. In 2012, CVC came close to floating the sport's holding company on the Singapore stock market. | CVC, whose interests in F1 are looked after by Bernie Ecclestone, has been F1's biggest shareholder for about a decade, although in the last few years it has reduced its stake. In 2012, CVC came close to floating the sport's holding company on the Singapore stock market. |
| The firm has also held talks with US-based Liberty Media and Discovery Communications about a sale. | The firm has also held talks with US-based Liberty Media and Discovery Communications about a sale. |
| Reuters said that CVC and the potential bidding consortium have appointed investment banks to advise on a deal, suggesting that talks could be at an advanced stage. | Reuters said that CVC and the potential bidding consortium have appointed investment banks to advise on a deal, suggesting that talks could be at an advanced stage. |
| Qatar Sports Investments, which own the Paris St-Germain football club, was not available for comment. | Qatar Sports Investments, which own the Paris St-Germain football club, was not available for comment. |