Mark Walter reportedly looking to sell stake in F1 team after Lakers sale

Mark Walter reportedly looking to sell stake in F1 team after Lakers sale originally appeared on The Sporting News. Add The Sporting News as a Preferred Source by clicking here.

Over the last six months, one of the top stories in the sports business has been Mark Walter’s sale of franchises across multiple leagues.

In August, Walter agreed to sell the NBA’s Los Angeles Lakers for a North American professional sports record of $12.5 billion, a turnaround that came around a year after he had taken majority ownership of the franchise.

After also selling his stake in Chelsea FC, reports now indicate that Walter is eyeing a sale of his stake in Cadillac’s Formula 1 team.

Here’s what’s known about Walter’s potential sale of his Formula 1 team.

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Mark Walter reportedly looking to sell stake in F1 team

Cadillac is in its first season as a Formula 1 team, one of just two American-based teams with headquarters in Indianapolis. In 2023, it was announced that TWG Motorsports, whose CEO is Walter, won the bid to start an F1 team. TWG Motorsports then partnered with General Motors, which owns Cadillac, to create the team, and Cadillac was officially approved by the FIA to join Formula 1 in March 2025.

Now, with Cadillac failing to score a point over 19 races the 2026 season, Sportico reported on Monday that Walter is "shopping his Cadillac F1 team with an asking price of at least $3 billion." There are reportedly "at least seven parties interested in the team."

Previously, TWG Global said in an August statement that the Cadillac F1 team was not for sale amid Walter’s other sports sales.

"TWG is not considering exiting its stake in the Cadillac Formula 1 team or any other part of TWG Motorsports and has also stated this position on-the-record," the organization said in a long statement following the Lakers sale.

Per Sportico, TWG and General Motors paid a $450 million dilution fee and invested "at least another $1 billion to get the team up and running," but "the [Cadillac] team is on track to lose roughly $400 million this year."

Walter has been at the center of a federal fraud investigation throughout 2026. He has not been charged by either the U.S. government or the Securities and Exchange Commission, and Walter has denied any wrongdoing. Per Sportico, the case is centered around Walter’s company, Guggenheim Partners, and whether it disclosed "related-party transactions within insurance companies [Walter] controls."

After Walter agreed to sell the Lakers, he also sold his 13% stake in the Premier League club Chelsea. Reports have also indicated he’s interested in selling the WNBA’s Sparks, though Walter has reiterated that the MLB’s Dodgers will not be sold.

It remains to be seen whether Walter will officially sell his company’s ownership of the Cadillac Formula 1 team, but it appears he could be continuing his recent trend of selling off significant portions of his sports portfolio.

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Source: sports.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.