Nov.5 (GMM) The reported sale process surrounding Cadillac’s Formula 1 team has gathered further momentum, with the Wall Street Journal naming Fenway Sports Group as one of the parties in talks.
Sportico reported earlier this week that Mark Walter is shopping his Cadillac stake at a valuation of at least $3 billion, despite TWG Global previously saying the team was not for sale.
Now the Wall Street Journal says John Henry’s Fenway Sports Group, owner of the Boston Red Sox and Liverpool, is “one of several suitors currently in talks with Walter’s conglomerate TWG Global to purchase part of his stake” in the team, “according to people familiar with the matter”.
The Guardian has gone further, reporting that FSG has discussed buying a majority stake worth more than 2 billion Pounds.
“TWG has denied that a sale of Cadillac is imminent,” the newspaper reported, “but the Guardian has learned it has had talks with a number of interested parties including FSG.”
The Guardian added that FSG declined to comment on its investment plans.
The reports come as Walter continues to sell other sports assets, although TWG has denied allegations of fraud surrounding separate federal investigations into insurance businesses linked to him.
For Cadillac’s drivers, the ownership uncertainty coincides with continued questions over the 2027 lineup.
Sergio Perez has already extended his contract through at least 2029, while Valtteri Bottas has said he believes his own continuation merely requires final approval from senior management in the United States.
But Colton Herta will return to the Cadillac cockpit in Friday practice at Interlagos.
The American is expected to finally secure the remaining point required for his FIA Super Licence after the confusion in Mexico, where it emerged that an IndyCar results discrepancy had left him one point short of the required 40.