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China group in F1 takeover bid
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A Chinese investment group is allegedly preparing a bid to takeover Formula 1 from the sport's current right's holder CVC. Sky News has reported on a story involving China Media Capital (CMC) and Stephen Ross, the owner of the Miami Dolphins football team, forming a consortium to acquire a controlling stake in Formula 1 estimated at around $8.5B. The group supposedly intends to seek a 90-day period of exclusivity in order to conduct its due diligence task and hold talks with Bernie Ecclestone. Ross was listed earlier this year as being interested in buying F1, when it was reported that his investment vehicle, RSE Ventures, was be teaming up with Qatar Sports...
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