London British-basedsatellite broadcaster Sky is mulling a £4.5 billion ($A9.16 billion) bid to take a controlling stake in Formula One, potentially trumping a Qatari-backed consortium's plan to seize control of the sport, the Sunday Times reported.

On Wednesday a Financial Times report said the owner of the Miami Dolphins NFL team was to join Qatar in a bid to take over Formula One.

Formula One is viewed as one of the most valuable prizes in global broadcasting. Credit:Getty Images

Sports mogul Stephen Ross and his RSE Ventures, backed by Qatar Sports Investments, initially hope to buy 35.5 per cent of the holding company that owns F1 from London-based private equity firm CVC Capital and ultimately buy the entire stake, the paper reported.

However, the Sunday Times, citing City of London "sources", said the RSE-Qatari team was just one of several prospective buyers in contact with CVC.