The owner of the Miami Dolphins and the State of Qatar will try to take control of Formula 1, the Financial Times said in its Wednesday edition.

The sports tycoon Stephen Ross and his company RSE Ventures, backed by the Qatari investment fund Qatar Sports Investments, will attempt at first to acquire 35.5% of the commercial rights to F1 held by the holding company CVC Capital , based in London, said the newspaper.

Both partners would then buy all the shares, the newspaper added.

F1 boss Bernie Ecclestone may sell 5% of shares he owns personally in the company, the newspaper said.

F1 stables of directors stated recently that the sport is on the brink of crisis, while seats in the stands are becoming unoccupied and that the television audience figures fall, with more races increasingly dominated by a handful of drivers.