Cadillac F1 Owner Mark Walter Weighs $3bn Sale Amid Financial Pressures
Reports indicate that American billionaire Mark Walter is looking to offload his majority shareholding in the Cadillac Formula 1 squad, seeking a valuation exceeding $3 billion.
Sportico reported on Monday that at least seven potential buyers are interested in the outfit, which Walter commands through his TWG Global holdings. The organization currently runs five racing teams across different championships. According to sources speaking to The Athletic, Walter’s share is valued at over $3bn, equating to roughly £2.2bn.
This follows a firm rejection by TWG last month of rumors regarding a Cadillac stake sale, which arose after Walter decided to exit the Los Angeles Lakers NBA franchise. A detailed statement from the company read: “TWG is not considering exiting its stake in the Cadillac Formula 1 team or any other part of TWG Motorsports.”
Earlier this year, Walter disposed of his holdings in Premier League side Chelsea, and he is reportedly also trying to sell the WNBA’s Los Angeles Sparks. Combined with federal probes into insurance firms under his business umbrella, these moves have fueled doubts about the longevity of his sports portfolio. TWG Global has maintained that it is not involved in any misconduct regarding these inquiries.
Neither TWG Global nor Cadillac F1 has confirmed that a transaction for the team is about to happen.
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Cadillac’s Formula 1 campaign has been burdened by significant startup expenses and running costs. Sportico notes that the team expects to post a deficit of approximately $400 million in the current year.
Beyond these monetary challenges, Cadillac has found it difficult to compete effectively. Even with experienced drivers Sergio Perez and Valtteri Bottas on the grid, the squad has failed to accumulate any points during the 2026 season.
The racing industry’s commercial expansion has driven up team valuations recently. Sportico calculated that the average team value reached $3.42 billion last year, representing a 48% increase from the previous year and more than twice the 2023 figures.
Cadillac has secured Perez with a multi-year contract extending to at least 2029. While Bottas’s status is uncertain, reports indicate the team is targeting F2 driver Colton Herta for the 2027 campaign.
