The mother-in-law of Formula One President Bernie Ecclestone has been kidnapped in Brazil, criminals demanding a ransom of $36.5mher, BBC reports.

According to Veja and Globo, Aparecida Schunck, 67, was kidnapped in Sao Paulo in the night of July 22.

The kidnappers demand a record amount to set the woman free: they say the ransom must be paid in pounds sterling and then be divided into four bags of cash, BBC reports.

Bernie Ecclestone, 85, is considered one of the richest and most influential people in the world of sports. His fortune is estimated to be $3.1 bln.

Aparecida Schunck is the mother of Fabiana Flosi, 38, whom Ecclestone married in 2012.

The Brazilian police and representatives of the Ecclestone family have not commented on the abduction yet.