A surprising ownership shake-up could be looming over Formula 1's newest outfit, with reports claiming that prominent Cadillac shareholder Mark Walter is sounding out potential buyers for his stake in the American operation – despite having categorically denied any intention to sell just three months ago.
According to sports business website Sportico, Walter, the billionaire owner of TWG Global who is currently embroiled in a major legal battle in the United States, is exploring the market for the fledgling F1 team.
Sportico alleges that at least seven potential investors have expressed their interest in TWG’s holding in the F1 team despite a staggering asking valuation of $3 billion, a number that seems almost outlandish for a team in its first season in the sport, and with zero points to show for its back-of-the -grid presence.
Walter's sports investment company holds a controlling interest in the Cadillac outfit alongside General Motors, although the precise ownership split between the two partners has never been disclosed.
The American's motorsport empire extends considerably beyond Formula 1, encompassing Andretti Global in IndyCar, Spire Motorsports in NASCAR, Wayne Taylor Racing in sportscars and Walkinshaw TWG Racing in Australia's Supercars championship.
Yet the reported interest in finding a buyer for Cadillac would directly contradict the company's position in August, when TWG issued an unequivocal statement dismissing speculation about a possible divestment.
"TWG is not considering a sale of the Cadillac team or any other part of TWG Motorsport".
That declaration came against the backdrop of Walter reshaping parts of his wider sporting portfolio, amid a US federal investigation involving intermediary companies within his broader business empire.
The billionaire recently completed the sale of the Los Angeles Lakers to a consortium led by Josh Kushner and Bob Iger in a deal reportedly worth $12.5 billion. He also offloaded a 13 percent stake in English Premier League club Chelsea FC to Clearlake Capital.
Sportico now suggests that the WNBA's Los Angeles Sparks could also be among the sporting assets Walter is looking to sell.
Cadillac's sporting struggles add another question mark
Any potential ownership transition would arrive at a delicate moment for Cadillac. Its debut F1 campaign has yet to deliver a single world championship point, with Valtteri Bottas and Sergio Perez languishing 23rd and 24th respectively in the drivers' standings.
There is also uncertainty surrounding the team's 2027 driver line-up. Perez appears secure after signing a new multi-year agreement on the eve of the Mexico City Grand Prix, but Bottas' position looks considerably less comfortable despite his insistence that he has a contract for next season.
Read also: Cadillac vows ‘full investigation’ after Bottas’ high-speed failure
American prospect Colton Herta is waiting in the wings. Despite a difficult debut FIA Formula 2 campaign, he is just one further FP1 appearance away from securing the necessary Super Licence points and remains a genuine contender for a Cadillac race seat.
Whether Walter's reported overtures signal a genuine change of direction or simply reflect exploratory discussions remains unclear.
But with a reported valuation exceeding $3 billion and multiple interested parties already identified, the possibility of a significant ownership shake-up at Formula 1's newest American team suddenly looks rather less far-fetched.
For an outfit that has barely begun its journey in the championship, the prospect of its controlling shareholder already contemplating an exit would certainly be an unexpected plot twist.
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