Fenway Sports Group (FSG) is currently in discussions regarding the acquisition of a majority stake in the Cadillac Formula One team. The potential deal is estimated to be worth more than £2 billion, according to industry sources familiar with the matter. This move comes as investor Mark Walter moves to offload several major sporting assets amid ongoing legal challenges.
Walter is facing investigations from both the US Department of Justice and the Securities and Exchange Commission concerning alleged fraud related to management practices at his insurance firms: Delaware Life, Clear Spring, and EquiTrust. Through his firm, TWG Global, Walter has publicly stated that “there has been no fraud” regarding these operations.
Cadillac joined the Formula One grid this year as a joint venture between General Motors and TWG Global. While TWG has officially denied that a sale of the team is imminent, it is confirmed that the organization has entered into talks with several potential investors, including FSG. Currently, the Cadillac team occupies the bottom position in the constructors’ championship and has yet to secure a single point in its inaugural season. In app, tap the Profile settings button at the top right, then select Notifications.
For FSG, the interest in Formula One follows its successful partial sale of Liverpool FC earlier this summer, where a 38% stake was sold to a consortium including Amazon founder Jeff Bezos and Facebook co-founder Eduardo Saverin. A source with knowledge of FSG’s plans disclosed that it is looking at other sporting investments after selling 38% of Liverpool this summer to a consortium that includes the Amazon founder Jeff Bezos and Facebook co-fou.
That agreement grants the consortium an option to execute a full takeover of the Premier League club before August 2027. Liverpool is now valued at £5.5 billion, a significant increase since FSG acquired the club for £300 million in 2010.
FSG already maintains a presence in motor sports through a 50% ownership stake in the Nascar team RFK Racing. The ownership group, which also holds majority control over the Boston Red Sox and the Pittsburgh Penguins, has been drawn to Formula One by the series’ rapid commercial expansion in the United States. Since Liberty Media acquired F1 in 2017, the sport’s annual revenue has doubled to roughly $4 billion, supported by climbing broadcasting rights values. How do I sign up for sport breaking news alerts. Make sure you’re on the most recent version, if you already have app. Download it from the iOS App Store on iPhone or the Google Play store on Android by searching for ”, if you don’t have app. FSG has a history of investing in motor sport through its 50% stake in the Nascar team RFK Racing, with the source adding that it has been attracted to F1 by the sport’s remarkable growth over the last decade, particular.
Mark Walter’s broader portfolio remains in flux. Beyond his interest in the Cadillac F1 entry, he has recently sold his controlling stake in the NBA’s Los Angeles Lakers and a 13% share in Chelsea FC. He is also actively exploring the sale of the WNBA team, the Los Angeles Sparks. Despite these divestments, the 66-year-old remains the controlling owner of Major League Baseball’s Los Angeles Dodgers and maintains that the team is not for sale.
While Sportico has indicated that Walter values his stake in the Cadillac venture at approximately £2.24 billion, the specific ownership breakdown between General Motors and TWG Global has not been disclosed. FSG has declined to provide formal comment on the potential investment.
