According to this recent Financial Times article, Qatar is teaming up with Stephen Ross (RSE Ventures & Miami Dolphins owner) in order to buy 35.5% of Formula 1.
The deal could be worth between $7 billion and $8 billion but as an end-game it’s believed that the investment group is looking to ultimately own 100% of F1.
Stephen Ross will be backed by Qatar Sports Investments (QSI), a group best known for owning football team Paris St Germain while also owning 17% of the VW Group.
Of course, any sort of deal would see F1 boss Bernie Ecclestone letting go of his 5% – which he does seem willing to do.
An official bid is believed to be a few weeks away, with Ecclestone himself stating that there is no “deal on the table” as of right now. So what could this mean for Formula 1? Probably more exposure in both Asia as well as the United States for starters.
Qatar has been trying to bring Formula 1 to their shores for a while now, so if this deal is to go through, it’s definitely going to happen.
If a change in ownership would also signal a change in future/potential grand prix tracks remains to be seen, but the U.S might get a second race track if RSE Ventures are to have their way.
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