Dolphins Owner Stephen Ross and his company RSE Ventures are "teaming up with Qatar Sports Investments ... to buy out" both CVC Capital Partners and F1 CEO Bernie Ecclestone, according to Daniel Johnson of the London TELEGRAPH. The private-equity firm is "eager to sell" but believed to "hold a valuation" closer to US$9B. There are also "suggestions that Qatar has stepped up its interest" in F1 after the ongoing FIFA corruption scandal. CVC currently own 35.5% of F1, while Ecclestone "has a personal stake" of roughly 5%. CVC said that it had "not yet received an official bid and declined to comment on the talks." The FIA also "has not received an application, as they have to approve any transaction." The potential bid "comes at an already uncertain time" for F1. While TV viewership numbers have "rallied in the U.K. and in Italy, they are down across the board." CVC "has controlled" F1 for nearly a decade, but has "gradually sold down its stake" (London TELEGRAPH, 6/24). The FINANCIAL TIMES' Moore, Massoudi, Kerr & Cotterill cite a source as saying that even if Ecclestone sells his shares, RSE is "keen to keep the 84-year-old involved and had discussed the idea with him." RSE is "believed to be a few weeks away from a formal bid and in the diligence stage" (FINANCIAL TIMES, 6/24). A source as saying that German media group Constantin Medien Supervisory Board Chair Dieter Hahn "is also involved with the investment consortium." Goldman Sachs is "working with CVC on the deal, while JP Morgan is working with the buyside investors" (REUTERS, 6/24).
