Sale of stake boosts F1

CVC Capital, which holds the rights to F1, has revealed that it has sold a $1.6bn stake in the business.

The sale of what is believed to be 20 per cent of the sport to a group of investors which includes American investment corporation BlackRock, reduces CVC's holding to around 40 per cent but crucially raises the sport's value to $9.1bn (£5.8bn).