The American private fairness house has earned more from the rise of the grand prix circuit than anyone else – even the sports supremo,Bernie EcclestoneFormula One reaches the midway point of the season at the Hungarian Grand Prix on Sunday: but the genuine action will not be on the track but off it as the race for ownership of the sport revs up.
The title battle looks to be between just two drivers – Mercedes team-mates Lewis Hamilton and Nico Rosberg. However, behind the scenes the bidding war for F1 is much less clear-slash, and with the latest names to enter the fray being Qatar’s sovereign wealth fund and RSE Ventures,owner of the Miami Dolphins NFL team. They have made a joint approach to buy the 35% controlling stake in Formula One’s parent company owned by the private fairness firm CVC.
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Source: theguardian.com