Qatar’s investment into the world of sport may soon include Formula One.
Qatar Sports Investments, owner of the Paris Saint Germain (PSG) football team, and the New York-based RSE Ventures, owner of the Miami Dolphins of the NFL have teamed up to buy a controlling stake in the sport from the private equity fund CVC Capital Partners, according to reports from theFinancial Times and Reuters.
CVC is the largest shareholder in Formula One with a 35.5 per cent interest managed by the veteran motor sport magnate Bernie Ecclestone.
The UK newspaper, quoting sources close to the negotiations, said the deal could be worth US$7 billion to $8bn with a view to building the sport’s presence in the United States
http://www.thenational.ae/business/economy/us-qatar-investors-bid-for-a-controlling-stake-in-formula-one
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