A buiness group headed by Miami Dolphins owner Stephen Ross is reportedly looking in to a takover bid of Formula One Racing. RSE Ventures, a company founded and owned by Ross is looking at a big to buy out the shares of Formula One Currently held by CVC Capital Partners. CVC holds a controlling interest in Formula One with 35.5 percent of the racing series.
The deal is believed to be worth between 7 and 8 billion dollars and is backed by Qatar Sports investments. Ross would also acquire the head of Formula One's, Bernie Ecclestone, 5 percent stake in Formula One.
It is believed that Ross' group would like to acquire formula one in order to grow the series in China and the United States. Ross, besides his current holding, including the Miami Dolphins, has been part of a group working with David Beckham that hopes to bring Major League Soccer to the greater Miami area.