The reported front-runners are multiple consortiums, separately involving grandee teams Red Bull, Ferrari and even Lotus' Gerard Lopez.
But also in the running now is F1 supremo Bernie Ecclestone, who is reportedly at risk of being ousted by CVC over a corruption scandal for which he is currently on trial in Germany.
The Daily Express newspaper, however, claims 83-year-old billionaire Ecclestone could simply buy back the sport he so successfully developed.
"I have spoken to (CVC's) Donald Mackenzie and I am looking at it," the diminutive Briton confirmed.
"Our company has been a very good investment for CVC and it would be a very good investment for me or anyone who owned it."