The 76 year-old was estimated to have a personal wealth of Â£2.25bn in the last Sunder Times rich list.
He is connected to former Arsenal chairman David Dein who left the club following a dispute in April. He told the BBC: “If somebody offers me something I think is good value, I will have a go. I’m interested in anything if it’s cheap enough.”
He had previously looked into buying Chelsea with Renault team boss Flavio Briatore. Among the drivers, Lewis Hamilton is believed to be an Arsenal fan.
There have been unsuccessful attempts to create football motor sports in the past – notably the aborted Premier 1 GP concept.
One of the former Premier 1 GP promoters is trying to get the idea off the ground again, now called Superleague Formula.
- GPWC goes the way of Premier 1 GP
- Debate: Should Ecclestone buy Silverstone?
- â€œUnracedâ€¦ Formula One’s lost carsâ€ (Sam Collins, 2007)
- Maximum Motorsport – Premier 1 GP 2.0
- BBC News – Ecclestone may launch Arsenal bid (external)