Categories: F1 News, Reports and Race ResultsFormula 1

CVC in talks to sell 35% stake in Formula 1

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CVC Capital Partners, Formula 1's majority shareholder, is allegedly in talks to sell a stake in the sport to an investor group led by Qatar and RSE Ventures, the holding company which owns the Miami Dolphins American football team.

According to a story published by the Financial Times on Tuesday, the deal currently under negotiation may be worth £5 billion for a stake evaluated at 35.5% of F1, and would include FOM's chief executive Bernie Ecclestone's personal 5% stake in the company.

RSE Ventures is a sports and entertainment company which was co-founded in 2012 by American businessmen Stephen Ross and Matt Higgins. Qatar has initiated several high profile investments in the sports arena in past years, notably buying French soccer club Paris St Germain, while also winning the now contested 2022 World Cup bid scheduled to take place in the resources-rich Gulf State. The country is also rumored to be seeking a date on the F1 calendar alongside Abu Dhabi and Bahrain.

Talks with CVC are still in the early stages however, with a formal offer not expected to be submitted for several weeks and upon completion of the necessary due diligence work. Should the deal materialize, RSE is reportedly keen on retaining the services of F1's current supremo, believing that the 84-year-old Ecclestone could still prove instrumental in managing and expanding Grand Prix racing globally.

While CVC has controlled F1 for nearly 10 years, it has over time sold minority interests in the sport to various investors. Rumors of an outright sale have frequently surfaced in the past, the last takeover bid coming last year when media tycoon John Malone's Liberty Global and Discovery Communications showed apparent interest in buying the sport.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.