Liverpool FC owners emerge as potential buyers of Cadillac F1 shares amid TWG uncertainty

Fresh doubts have emerged over the future of Cadillac Formula 1's majority ownership amid reports Mark Walter's TWG Global is looking to offload some of its shares - with Liverpool FC owner Fenway Sports Group said to be among the interested parties.

US billionaire Walter and his companies are the subject of a federal probe by the U.S. Department of Justice, investigating whether Walter's insurance companies, including Delaware Life Insurance Company, Clear Spring Life and Annuity, improperly invested policyholder funds in affiliated businesses. The transactions reportedly involved are around $20 billion in loans and investments that allegedly were not adequately disclosed.

Some of those funds were allegedly used to expand Walter's burgeoning sports empire, which at one point included the LA Dodgers baseball team, LA Lakers basketball team, a minority stake in football club Chelsea, and the LA Sparks WNBA team. TWG Global has consistently denied any wrongdoing.

TWG Global is also the parent company of TWG Motorsports, which majority owns the Cadillac F1 team as well as its NASCAR, IndyCar, IMSA and Australian Supercars squads. The Cadillac brand's parent company General Motors also holds an undisclosed minority share in the F1 team as it supplies infrastructure and personnel, and is developing future power units.

Why Cadillac F1 could be next on the chopping block

Walters has already moved to sell the Lakers and his 12.8% share in Chelsea, and the LA Sparks are also up for sale. Sports business website Sportico has now reported that Walter is also looking to offload part of his majority stake in the Cadillac F1 team, valuing the team at around $3billion.

The Washington Post has reported that one of several interested parties is John Henry's Fenway Sports Group, which owns Liverpool FC and the Boston Red Sox baseball team. FSG recently sold 38% of its stake in Liverpool, and already has a presence in motorsports as a 50% shareholder of the RFK Racing team in NASCAR.

Sergio Perez, Cadillac Racing

Photo by: James Sutton / Formula 1 / Formula Motorsport Ltd via Getty Images

While TWG Global initially dismissed suggestions it could sell part of its F1 team, there are plausible reasons why it could be the next asset up for sale if Walter is forced to replace the related-party loans in question with fresh capital.

Walter’s group, Guggenheim Baseball Partners, purchased the LA Dodgers for $2.15 billion in 2012 out of bankruptcy court.

Lucrative local TV rights and a swell of popularity and sponsorship income overseas in the wake of signing Japanese superstar Shohei Ohtani, has seen the club become the first baseball franchise to reach 1.1 billion gross revenue in 2025. That has elevated the Dodgers into the same stratosphere as the world's biggest sports franchises like Real Madrid, FC Barcelona and the Dallas Cowboys NFL team.

As its valuation soared to around $7.8bn, according to Forbes, while it won back-to-back World Series championships in 2024 and 2025, the Dodgers team is Walter's goose with the golden eggs, so it is likely the last top-tier sports asset TWG will cling on to.

The Cadillac F1 team is in a very different position, having only joined the series this year after a protracted entry process. Having paid a $450m anti-dilution fee for the right to join as an 11th expansion team, TWG Global and its partner General Motors have reportedly been pouring resources understood to be north of $1bn into building up the team, which includes state-of-the-art headquarters both in Silverstone in the UK and in Fishers, Indiana.

Cadillac has had a reasonable start to life as an F1 team, with relatively respectable performances for a start-up team marred by subpar reliability, but its road to become a successful F1 team is still a long-term proposition.

Valtteri Bottas, Cadillac Racing

Photo by: Alastair Staley / LAT Images via Getty Images

Meanwhile, F1's popularity boom and its budget cap has meant team valuations have soared in recent years, with the top teams now turning profits.

Paired with the scarcity of a closed 11-team grid, that franchise system has led to an inflated figure of $3bn for a currently uncompetitive team, albeit one with significant infrastructure assets and GM backing.

TWG Global has been contacted for comment, while GM representatives declined to comment on the recent reports.