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Miami Dolphins Owner Stephen Ross and QSI Reportedly Planning $7.9bn F1 Bid
Published: June 24, 2015
A joint effort may be made to take over the sport which is currently suffering dwindling interest outside of Italy and the United Kingdom, per Johnson. CVC owns 35.5 percent of the business but was unable to raise its stake to 49 percent after talks with Liberty Global and Discovery Communications in 2014.
Ross' company RSE Ventures could now be used to team-up in an attempt to gain control. The Financial Times (h/t Johnson) wrote that Ross is "keen" to maintain the presence of F1 chief Bernie Ecclestone—who has a personal five percent stake in the sport—even if he is bought out.
Ecclestone discussed the potential of selling his investment: "My shares will be sold together with theirs (CVC's). There are three or four people talking to CVC but I don't know how close things have got at this stage. If they decide to sell, they will have to tell me because I am a shareholder," he said, per Johnson.
A source in the Financial Times (h/t Paul Weaver of the Guardian), noted Ross and his investment partners "believe he (Ecclestone) brings a lot to the sport and they can help expand it into the U.S. and Chinese markets."
Qatar Sports Investments own French football champions Paris Saint-Germain. Although the company holds stakes in Fisker Automotive and the Volkswagen Group, Johnson believes "motor racing is the one major blank spot in Qatar's portfolio."
A huge cash injection at PSG has seen the side win three consecutive Ligue 1 titles and usher in an era of success. Star names such as Zlatan Ibrahimovic, Thiago Silva and Edinson Cavani have joined the club in a bid to make the capital-based team competitive on a European scale. The project is progress...
Article Source: Bleacher Report - Formula 1
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