Formula One enters a new era as US billionaire John Malone's Liberty Media agrees a takeover that values the motorsport at $8 billion.

Brazilian law enforcement agents storm a hideout near Sao Paulo on Sunday and free the kidnapped mother-in-law of Formula One supremo Bernie Ecclestone.

Bernie Ecclestone's mother-in-law has been kidnapped in Brazil with criminals demanding a ransom of £28 million, according to reports.

The mother-in-law of Formula One chief Bernie Ecclestone has been kidnapped in Sao Paulo and criminals are demanding 120 million reais ($36.5 million) in ransom, according to reports in a leading Brazilian news magazine.

Formula 1 boss Bernie Ecclestone says female drivers would "not physically be able to drive a F1 car quickly".