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Qatar and Miami Dolphins owners set to buy F1
RSE Ventures, which owns the Miami Dolphins NFL team, is joining forces with Qatar to buy a controlling stake in Formula One in a deal worth $7-8 billion, a source familiar with the matter told Reuters. RSE is looking to acquire the 35.5 percent stake from private equity fund CVC Capital Partners Ltd, who sold down its holding from 63 percent in 2012 in deals that at the time gave the business an enterprise value of $9.1 billion. The commercial side of Formula One is run by 84-year-old British billionaire Bernie Ecclestone, who has turned the sport into a global money-spinner in more than four decades of deal making. Ecclestone, a former second-hand car dealer and team owner, has also been...
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10y ago from GrandPrix247.com
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