Cadillac F1 Stake Put on Sale at $3 Billion Team Valuation

Mark Walter is considering selling his interest in Cadillac’s Formula 1 team, which he controls through TWG Global in partnership with General Motors. The proposed transaction would value the entire team at no less than $3 billion, and at least seven parties are interested in a deal as the season approaches its end.

The valuation is for the whole team, not the amount Walter would receive. The size of TWG Global’s stake and how much of it might be sold have not been disclosed, leaving the potential proceeds unclear.

TWG and General Motors paid $450 million to enter Formula 1 and have spent at least another $1 billion establishing the team. Cadillac is projected to lose nearly $400 million in its first season, with start-up expenses and a commercial operation still taking shape contributing to the expected shortfall. The team has yet to score championship points.

The possible sale follows other changes to Walter’s sports holdings. He accepted a $12.5 billion offer for the Los Angeles Lakers, and he and business partner Todd Boehly have announced plans to sell their Chelsea soccer stakes. Cadillac, meanwhile, has extended Sergio Pérez’s contract through at least 2029.