Cadillac F1 owner Mark Walter reportedly explores $3bn sale of controlling stake

Billionaire investor Mark Walter is reportedly exploring a sale of his controlling stake in the Cadillac Formula 1 Team, with the operation valued at around $3 billion, according to a Sportico report. At least seven potential buyers have reportedly emerged.

The move contrasts with a statement from TWG Global in August, which denied that its Formula 1 operations were for sale and insisted it was committed to the long-term project. Walter has also parted ways with several sports assets in recent months, including his stake in Chelsea FC and his shares in the Los Angeles Lakers. TWG Global has denied any wrongdoing in ongoing federal financial investigations into insurance entities tied to its business.

Neither TWG Global nor Cadillac F1 has confirmed a finalised agreement or an imminent transaction. Perez has reportedly been confirmed to stay with the team until at least 2029, while Bottas' future is unclear, with rumours suggesting Colton Herta could replace him in 2027.