F1 and Miami Dolphins…why not? F1 for sale?

The talk of Formula 1’s eminent sale is always an interesting exercise in speculation and while I am interested in reading about potential suitors, the reality of buying 35% of F1 is a big nut to crack for any investment fund. Does anyone have $7bn-$8bn I can borrow?

The Financial Time (FT) did run a story today about the potential sale or at least interest in acquisition of F1 but Miami Dolphins owner, Stephen Ross, and a Qatari investment groups called Qatar Sports Investments—sure, its name says it all I suppose.

The Times suggests that this contingency is interested in acquiring CVC Capital’s 35% stake in F1 and that the long-serving boss, Bernie Ecclestone, would be retained in the operation to help with expanding F1 into the US and China. It is believed that Ecclestone would sell his 5% stake in the transaction.

Call it timing but I find the story interesting that it was released now to the public. The series is in the throws of serious political and financial difficulties with Red Bull threatening to leave the sport, Renault saying much the same and the F1 Strategy group incapable of making decisions which was highlighted this week by Red Bull Racing’s Christian Horner.

It’s an odd time to be running a for sale sign in the window of F1 to be sure but it is worth considering that this is in the initial stages of due diligence and that process has scuttled more than one acquisition as the bodies are discovered and the festering wounds come to light for any firm diligent enough to fine them.

Mr. Ross is said to be keen on commercializing F1 more in the US while the Qatari interest is reeling from the Fifa scandal and sees F1 as a commodity and long-term investment like property, according to the FT’s Malcolm Moore, Arash Massoudi, Simeon Kerr and Joseph Cotterill.

I find the timing odd and I also know that showing interest isn’t a done deal. Merely and interest and surely CVC Capital know this better than anyone so why lob the story into the media at such an early stage? Strange things are afoot at the Circle K.

Hat Tip: Financial Times

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Circle K is a convenience store chain in Japan. I’ll have to lead the investigation for FBC while buying a corn dog, coke, and Snickers bar.


69 dude *plays air guitar*

The Captain

An American Billionaire and shady middle east money… what could go wrong?