Canadian billionaire Lawrence Stroll is reportedly looking to buy the troubled Swiss Formula One racing team, Sauber F1. The fashion tycoon sold his 5.7% stake in Michael Kors, and has sufficient funds to buy Sauber, which recently had to be bailed out in a so-called “Russian rescue deal” in which three Russian companies formed a partnership with Sauber.
55-year old Stroll is the 816th wealthiest man in the world with $2.5 billion, and he owns two of the most expensive cars on the planet, the Ferrari P4 and the Ferrari 275 GTB/4. Apparently, Stroll was mulling over buying CVC Capital, the private equity firm that owns Formula One, but it looks like he might be buying Sauber instead.
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