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Reuters Now

Miami Dolphins and Qatar target F1 stake

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RSE Ventures, which owns the Miami Dolphins NFL team, is joining forces with Qatar to buy a controlling stake in Formula One in a deal worth $7-8 billion (£4.5-5 billion),according to a source familiar with the matter. RSE is looking to acquire the 35.5 percent stake from private equity fund CVC Capital Partners Ltd, which reduced its stake in 2012 and has twice tried to float Formula One, most recently in 2013. The commercial side of Formula One is run by 84-year-old British billionaire Bernie Ecclestone, who has turned the sport into a global money-spinner and is expected to continue his involvement after any sale.

Reuters Now

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