Cadillac F1 buyout talks: sale process reportedly under way

Reporting suggests a sale process is under way for a stake in Cadillac's Formula 1 team, although the owner's side has said nothing has changed. Sources indicate that negotiations are being handled personally by Mark Walter and a small circle around him, which may explain why few people in the paddock have confirmed details on the record.

Sportico and the Wall Street Journal have led the reporting on the story, with The Guardian reporting talks about a majority purchase by Fenway Sports Group. A preference on Walter's side is reported to be a minority sale that would allow him to retain control, though a preference is not a completed deal.

The source notes that how ownership rights are attached to any shares sold may matter as much as the percentage itself, citing Lawrence Stroll's arrangements at Aston Martin as an example of an owner bringing in investors while keeping governance rights.