Miami Dolphins teaming up with Qatar in F1 takeover bid
Those rights are currently held principally by CVC Capital Partners, an investment firm that acquired them (through a series of holding companies) in 2005. Having initially consolidated its majority ownership, however, CVC has been looking for the right way to divest itself from the sport and capitalize on its initial investment, which has only appreciated in value over the past decade. It initially planned to float some of its shares on the Singapore stock exchange in 2012. That ultimately failed, but has been entertaining offers and selling portions of its holdings ever since.
This latest bid is reportedly being prepared by RSE Ventures and Qatar Sports Investments. The former is a sports and entertainment firm that, in addition to owning the NFL team and other assets, has been linked with a project to bring a Major League Soccer team to the Florida city in partnership with David Beckham. Qatar Sports Investments, meanwhile, is an arm of the Persian Gulf state which controls the Paris Saint-Germain soccer team and principal advertising rights for FC Barcelona.
Their joint bid would reportedly have RSE and Qatar initially taking a 35.5 percent stake in the Formula One Group from CVC, and potentially taking over Bernie Ecclestone's 5 percent stake as well – though the controversial director could remain involved even after the takeover. That initial acquisition could lead to either or both parties buying a larger stake in the future as well, with an eye towards better capitalizing on the sport's market potential. At present, however, the parties are reportedly still in the exploratory stage, with CVC yet to receive an offer and the FIA yet to have been asked to approve any such transaction.
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