Mark Walter seeks at least $3 billion for Cadillac F1 stake

No deal has closed and no buyer has been named. Walter controls the Cadillac team through TWG Global, whose TWG Motorsports division also runs entries in IndyCar and NASCAR.

A sale would put a price on Formula 1's newest team during a costly debut season. It would also give buyers and rival teams a fresh valuation marker in a market where the average team was worth $3.42 billion last year. General Motors is co-owner, though the split between the two has never been disclosed.

The $3 billion ask

Sportico cited three people familiar with the process when it reported the asking price at $3 billion or more, with at least seven interested parties. Bloomberg's account is more cautious: buyers have begun circling, it reported, but TWG Global has not agreed a deal or announced the team is on the market. Motor1 drew a harder line between interest and money, reporting that more than 20 parties have expressed interest while people close to the process say fewer than seven have the capital to meet the number.

The $400 million loss

Cadillac joined the grid in March 2026 as Formula 1's first expansion team in a decade. The entry was not cheap.

TWG and General Motors paid a $450 million dilution fee to the other nine teams, then put in at least another $1 billion to build the operation from scratch. Sportico reported the team is on track to lose roughly $400 million in 2026, driven by startup costs. Motorsport Week and Hoodline reported that Cadillac has yet to score a point this season, while Motor1 reported the team had managed one point. The sources disagree on that count. Sergio Perez, one of the two drivers, has a contract through at least 2029.

The U-turn

TWG Global said in August that it was not considering exiting its stake in Cadillac or any other part of TWG Motorsports, Motor1 and Crash.net reported. Hoodline, citing an earlier Sportico report, said the statement came in October. Walter himself told reporters, "We are going to keep the team no matter what," Motor1 reported.

Hoodline, citing Sportico, reported that Walter agreed to sell the Los Angeles Lakers to Joshua Kushner and Bob Iger for $12.5 billion, with Walter and Kushner finalising the sale in Florida on 30 October. He said on 29 October that the Dodgers would not be sold. He has also sold his 13 percent stake in Chelsea, Motor1 reported. He is seeking a buyer for the WNBA's Los Angeles Sparks. Federal investigations into insurance companies controlled by Walter have added to the speculation, though TWG Global has denied any wrongdoing.

Why $3 billion is not a stretch

Sportico's 2025 valuations put the average Formula 1 team at $3.42 billion, up 48% on the year before. Ferrari led at $6.4 billion, ahead of Mercedes at $5.88 billion and McLaren at $4.73 billion. Racing Bulls turned down an offer north of $2 billion, Sportico reported. The ask is not out of line with that market.

GM has its own reason to stay. The company has discussed sharing F1-derived technology with future performance models, a payoff that does not depend on who owns the stake.

What is not settled

Cadillac has not confirmed its 2027 line-up: Bottas's future is unknown, and reports link F2 driver Colton Herta to the seat. The 2026 season is nearing its end.