The Real Deal Miami

Related’s Ross looking to buy into F1 racing

Deal for controlling stake in racing competition worth up to $8 billion
Stephen Ross and a Formula 1 race

From left: Related Cos. founder Stephen Ross and a Formula 1 race

From the New York website: Related Cos. founder and chair Stephen Ross is teaming with a Qatari sovereign wealth fund to bid for a stake in Formula 1 racing, according to reports.

Ross’ RSE Ventures, with backing from Qatar Sports Investments, is planning a bid for CVC Capital Partners’ 35.5 percent controlling stake in the holding company that owns the popular sport. The deal could be worth up to $8 billion.

Negotiations are at an early stage, however, with a formal bid yet to be made. Ross’ group is one of a number of potential bidders, according to the BBC.

Ross owns the NFL’s Miami Dolphins and RSE Ventures has also held talks with David Beckham about bringing a Major League Soccer franchise to Miami. Qatar Sports Investments’ portfolio includes a majority stake in French soccer club Paris Saint-Germain.

CVC has been Formula 1’s biggest shareholder over the past decade, though the company has reduced its stake in the sport over the last few years. The firm has also discussed a sale with Discovery Communications and John Malone’s Liberty Media. [BBC]Rey Mashayekhi

  • real

    explain how the government in the country where the related group made 90 percent of their money is allowing them to do business with these savages. they do not respect human rights, they literally have slave labor in their country. Ross is parading around doing business with the same country who are anti everything his company claims on their website. any american company who wants to do business with countries who are like qatar, iran, etc they deserve to have their citizenship revoked and fined. This is disgusting.