Rupert Murdoch, owner of British Sky Broadcasting (BSkyB), is perfectly positioned to take Kirch's stake in Formula One if the troubled German media group sells its holding to pay off debts.

Kirch, which has around $5bn (€5.7bn) of debt, owns 59% of SLEC, the holding company for Formula One, the international motor racing championship. It also holds an option to buy another 16%. While Kirch has not confirmed that it wants to sell the stake, the company is having liquidity problems and there have been reports that asset sales are being considered.