NederlandsCadillac majority owner Mark Walter reportedly looking to sell part of stake
Source: RaceFans · · added 1 hour ago
Mark Walter, CEO of TWG Global, which holds a majority stake in Cadillac's Formula 1 team, is reportedly seeking to sell part of his holding, according to a Wall Street Journal report.
The report says the billionaire is looking to raise money while facing an investigation into lending between insurance companies he owns and other businesses he is connected to. Fenway Sports Group, which owns NASCAR team RFK Racing, Liverpool and the Boston Red Sox, has been named as a potential buyer.
The report claims the stake sale would value the team at $3 billion (£2.24bn).
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