Report: U.S., Qatar Investors Plan Bid for Control of Formula One

Qatar and U.S. tycoon Stephen Ross are preparing a bid to acquire 40.5% of the holding company that controls Formula One racing, sources tell the Financial Times. The newspaper says the partners aim to ultimately buy F1 outright.

The offer, which could be made a few weeks from now, would come from Ross' RSE Ventures and Qatar Sports Investments. They intend to gain 35.5% of the holding company from European buyout group CVC Capital Partners Ltd. and 5% from F1 czar Bernie Ecclestone.

FT's sources say the would-be buyers plan to maintain a role for Ecclestone, who has ruled the sport for decades. But their bid faces considerable hurdles, including the need to win the support of Ecclestone and F1's FIA governing body.