Mark Walter, whose TWG Global controls the Cadillac F1 team, wants to sell his stake for around $3 billion, according to a report by the US sports business outlet Sportico on Monday, 2 November. Reuters, Crash.net and GPFans picked the story up, but neither TWG nor Cadillac has confirmed it, and TWG denied any sale in August. It is news that the owner of Cadillac could change as the Sao Paulo GP weekend gets under way.
Credibility: Medium — First reported by: Sportico. Picked up by: Reuters (republished by the New Straits Times), Crash.net, GPFans. Response: Silence. Cadillac declined to comment when GPFans contacted it, and no official TWG or Cadillac response to this report appears in the articles we read. Basis: every follow-up cites Sportico alone, so this is not independent confirmation.
What was reported
Per Reuters, Sportico said Walter wants $3 billion for his Cadillac shares. Reuters and Crash.net both put the number of interested parties at at least seven. GPFans says "at least seven bidders" in its headline but "as much as seven parties" in the body, so the wording differs slightly.
Crash.net noted that there is no finalised agreement and no confirmation that a deal is imminent. The articles we read do not say whether only part of the stake or all of it would be sold.
Where the August denial stands
GPFans quotes TWG Global as saying it "is not considering exiting its stake in the Cadillac Formula 1 team or any other part of TWG Motorsports". The quote carries no date. GPFans calls it "last month", while Reuters and Crash.net say August, so the sources disagree on timing. Either way, that position does not fit with this report.
Background to the sale talk
Reuters reports that Walter and TWG Global became the subject of a federal investigation in July. The allegation is that policyholders' money was put into other Walter-owned companies without proper disclosure to investors, and that the money was used to buy the Dodgers. Crash.net describes the same probe as one into insurance entities within Walter's business group. TWG Global has consistently denied wrongdoing.
Walter sold the Los Angeles Lakers, bought in June 2025 for $10 billion, for $12.5 billion in August, and sold his Chelsea stake in September, Reuters wrote. Crash.net mentioned both sales as well.
The cost of running Cadillac
According to GPFans, Cadillac runs the team in partnership with General Motors, paid a $450 million dilution fee, has put in a further $1 billion, and is on track to lose $400 million. Any new owner would take on that cost structure.
No report says Cadillac's operations at this weekend's Sao Paulo GP will change. All that is established is that a stake sale has been reported, and until an official announcement it should be treated as hearsay.
