A joint bid from a Qatari-US effort is reportedly seeking a significant portion of shares from CVC Capital Partners' stake in Formula 1.

RSE Ventures and Qatar Sports Investments have approached to acquire a 35.5 per cent stake in CVC in a deal believed to be worth between seven and eight billion US dollars, according to the Financial Times

No formal bid has been launched and due diligence is taking place, while Bernie Ecclestone is quoted as saying he is unaware of any deal being made. Either way, the deal would include his stake in the company.

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Both RSE and Qatar Sports Investments have a high profile presence in sport, with the former owning NFL's Miami Dolphins, while the latter counts Paris St Germain football club amongst its interests.

The interest of Qatar comes after its attempts to secure an F1 race stalled on the back of reluctance from Bahrain to have another event in the region, but such a deal now has the opportunity to circumnavigate that opposition.

Qatar's investment in sport has been rapid in recent years, most notably its success in securing the 2022 FIFA World Cup, which remains on course despite concerns over its bid and high profile ructions within FIFA.

From a motorsport perspective, Qatar currently hosts the MotoGP season opener at the Losail facility and has just renewed its deal for another 10 years, while it is the new home for the World Touring Car Championship finale this season.