AP source: Qatari fund interested in F1

(AP Photo/Hassan Ammar)

PARIS (AP) Not content with hosting the 2022 World Cup, Qatar is now also exploring the idea of buying Formula One, another big step in its use of the global appeal of sports to put itself firmly on the map.

The purchase, if concluded, could see a Qatari investment fund that already owns Paris Saint-Germain, the football club where David Beckham ended his career, partner with the owner of the Miami Dolphins in the NFL, two people with knowledge of the discussions told The Associated Press. Not authorized to discuss the deal-making publicly, they spoke to AP on condition of anonymity.

A well-financed Qatari foray into the glamorous and lucrative multi-billion dollar world of F1 would accelerate its strategy of using major sports brands to raise the global profile of the gas- and oil-rich small Persian Gulf emirate. Hosting the 2022 World Cup is the prime example of that thinking. In that case, however, much of the resultant publicity has so far been negative, with international criticism of conditions for migrant laborers in Qatar.

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Formula 1 Leaders: Points
RankDriverPointsWins
1 L.Hamilton 169 4
2 N.Rosberg 159 3
3 S.Vettel 120 1
4 K.Raikkonen 72 0
5 V.Bottas 67 0
6 F.Massa 62 0
7 D.Ricciardo 36 0
8 D.Kvyat 19 0
9 N.Hulkenberg 18 0
10 R.Grosjean 17 0
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6/30/2015 9:28:00 AM