Chinese consortium eyes up stake Formula One takeover bid

Eleven years after China joined the  Formula One motor racing circuit, a group of Chinese firms lead by China Media Capital (CMC) is ready to put $1.5bn into a $8.5b takeover bid being put together by Stephen Ross, owner of the Miami Dolphins American football team.
The development is part of a larger trend which is seeing Chinese investors look to buy up market share in the global sports and entertainment business. Along with  with the Fosun investment conglomerate and commercial property specialists Wanda, CMC is also part of another consortium to enter into partnership with Warner Bros Entertainment for the production of  Chinese-language films for distribution around the world
Earlier this year Wanda bought stake in Spanish football champions Atletico Madrid and bought up the sports marketing company  Infront Sports & Media.

Source: chinadaily