The owner of the Miami Dolphins has teamed up with the Persian Gulf state of Qatar to buy a controlling stake in Formula 1 motor racing, the Financial Times reports.
RSE Ventures, which was founded by Dolphins owner Stephen Ross, is aiming to buy 35.5% of the Formula 1 franchise from CVC Capital Partners. The bid is backed by Qatar Sports Investments, an investment arm of the state of Qatar, which also owns the Paris St Germain soccer club.
Formula 1 motor racing is very popular around the world but not in the United States, which means investors believe it still has great potential to grow and compete with the U.S. Nascar racing series.
- The Fall of Roe and the Failure of the Feminist Industrial Complex
- What Trump Knew About January 6
- Follow the Algae Brick Road to Plant-Based Buildings
- The Education of Glenn Youngkin
- The Benefits and Challenges of Cutting Back on Meat
- Here's Everything New on Netflix in July 2022—and What's Leaving
- Women in Northern Ireland Still Struggle to Access Abortion More Than 2 Years After Decriminalization