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 said Tuesday.
RSE is looking to acquire the 35.5 percent stake from private equity fund CVC Capital Partners Ltd, which 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.