The owners of Formula One motor racing are considering a partial flotation of the business in Asia, an option also explored by English football champions Manchester United, to tap demand in the region for strong sporting brands.
A flotation of Formula One, which draws more than half a billion TV viewers for its races, has long been mooted, but the issue is made more urgent by the expiry this year of a confidential commercial agreement between the rights holding company and the teams whose cars compete in the 20-race series.
Private equity firm CVC Capital Partners, which acquired majority control of F1 in 2006, would continue to be a long-term holder of the business, and the initial public offering option being explored is for only part of the company, a source close to the matter said.
Britain's Sky News has reported that CVC has asked Goldman Sachs to examine a placement of some F1 shares with a new investor as a precursor to a formal IPO process in the south-east Asian city state of Singapore.
The source declined to comment on the Sky report, which placed a potential valuation of over $10 billion (Dh36.7 billion) on the business.
Goldman Sachs and CVC, which owns 63.4 per cent of F1, also declined to comment.
A minimum 15 per cent float in Singapore would make the deal worth $1.5 billion.