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Sky mulls F1 takeover in setback for Qatari bid
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BRITISH-BASED satellite broadcaster Sky is mulling over a 4.5-billion pound (US$6.8 billion) bid to take a controlling stake in Formula One, potentially trumping a Qatari-backed consortium’s plan to seize control of the sport, the Sunday Times reported.
Last Wednesday saw the Financial Times report that the owner of the Miami Dolphins NFL team was to join up with Qatar in a bid to take over F1. Sports mogul Stephen Ross and his RSE Ventures, backed by Qatar Sports Investments, initially hope to buy 35.5 percent of the holding company that owns F1 from London-based private equity firm CVC Capital and ultimately buy the entire stake, the paper reported. However, the Sunday Times citing City of London “sources” said Sky and Liberty Global, the cable conglomerate set up by the American billionaire John Malone which is the broadcaster’s potential partner in any bid for F1, had also held informal talks with CVC.
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