Here's the thing: the business side of Formula 1 never really slows down, and now, according to Autosport, fresh doubts have surfaced over the future of majority ownership for the Cadillac F1 team. Mark Walter's TWG Global is reportedly looking to offload portions of its stake, and among the interested parties is none other than John Henry's Fenway Sports Group, the owners of Liverpool FC and the Boston Red Sox.
This potential sale comes while Walter and his companies face a federal probe by the U.S. Department of Justice. The investigation is looking into whether Walter's insurance companies, including Delaware Life Insurance Company, Clear Spring Life and Annuity, improperly invested policyholder funds in affiliated businesses, involving transactions of around $20 billion in loans and investments that allegedly lacked adequate disclosure. TWG Global has consistently denied any wrongdoing.
Walter has already moved to sell the LA Lakers and his 12.8% share in Chelsea, while the LA Sparks are up for sale. Sportico has reported that Walter is also aiming to part with a portion of his majority stake in the Cadillac F1 team, putting a staggering $3 billion valuation on the squad. Meanwhile, Fenway Sports Group—which already holds a 50% share in the RFK Racing team in NASCAR and recently sold 38% of its stake in Liverpool—is eyeing a move.
TWG Global operates as the parent company of TWG Motorsports, which holds a majority stake in the Cadillac F1 team, alongside squads in NASCAR, IndyCar, IMSA, and Australian Supercars. General Motors, the parent company of Cadillac, holds an undisclosed minority share, supplying infrastructure and personnel while developing future power units. TWG initially dismissed suggestions of selling any part of its F1 team, but replacing related-party loans with fresh capital could force the issue.
While Walter's prized asset, the LA Dodgers, boasts a valuation soaring to around $7.8 billion according to Forbes following back-to-back World Series championships in 2024 and 2025, Cadillac F1 sits in a vastly different spot. Having joined the series this year after a long entry process and a $450 million anti-dilution fee, TWG Global and General Motors have poured resources understood to be north of $1 billion into building up the team, including state-of-the-art headquarters in Silverstone in the UK and Fishers, Indiana.
Cadillac has delivered a reasonable start to life as a grand prix outfit, though respectable performances have been hindered by subpar reliability as the squad faces a long-term project to become a consistent contender. Yet, thanks to F1's massive popularity boom, a budget cap, and the sheer scarcity of a closed 11-team grid, valuations have skyrocketed. TWG Global has been contacted for comment, while GM representatives declined to comment on the recent reports.
F1
F1
F1
