Mark Walter, the billionaire who controls the Los Angeles Dodgers, is reportedly shopping his Cadillac Formula 1 team at an asking price of at least $3 billion, with at least seven interested parties already circling. The move comes just days after Walter finalized the sale of the Los Angeles Lakers for $12.5 billion, raising fresh questions about which of his sports holdings might be next on the block.
According to Sportico, which cited three people familiar with the process, Walter set an asking price of at least $3 billion for the Cadillac F1 team. Sportico reported there are at least seven parties interested in acquiring it. Walter controls the team through TWG Global, whose TWG Motorsports division also includes teams in IndyCar racing and NASCAR.
Not everyone agrees on where things stand, however. Bloomberg reported that buyers have begun circling the team but that TWG Global has not agreed to a deal or announced that the team is on the market. That account sits alongside an earlier Sportico report that TWG had said in October it was not considering exiting its stake in the Cadillac Formula 1 team or any other part of TWG Motorsports.
A Costly Start for F1's Newest Team
Cadillac arrived on the grid in March 2026 as the first Formula 1 expansion team in a decade, and the price of entry was steep. TWG and General Motors paid a $450 million dilution fee and invested at least another $1 billion just to launch the operation, the same Sportico report notes. The team has yet to score a single point this season, and the report adds that Cadillac is on track to lose roughly $400 million in 2026, driven largely by startup costs and a commercial business still ramping up.
Driver Sergio Perez, one of two drivers on the Cadillac team, has already committed his future to the project, extending his contract through at least 2029 even as the team searches for its first points. The timing of any sale talk also comes as the Formula 1 season nears its end.
Fresh Off a Record Lakers Sale
The Cadillac speculation follows closely on the heels of Walter's blockbuster exit from the Lakers. 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 finalizing the sale in Florida on October 30. Walter has said he was not actively shopping the Lakers until receiving an offer, and he said on October 29 that he and his partners decided to pursue a sale after receiving a good offer.
Walter and Todd Boehly have also announced plans to sell their stakes in Chelsea FC, adding another item to the list of sports assets he's offloading this year. Not every holding is for sale, though — Walter said on October 29 that the Dodgers would not be put up for sale, adding that he expects to try to win for ten years or more and is looking forward to winning another World Series next year under his ownership.
Why F1 Teams Are Suddenly Worth So Much
The reported $3 billion ask for a winless expansion team reflects just how fast Formula 1 valuations have climbed. Sportico's 2025 team valuations put the average F1 team at $3.42 billion, up 48% from a year earlier, with the outlet reporting that nearly every team is fielding weekly inbound inquiries about investment stakes and some control offers at ever-escalating prices. Ferrari topped that list at $6.4 billion, followed by Mercedes at $5.88 billion and McLaren at $4.73 billion, per the same Sportico analysis.
Other recent transactions underscore the momentum: Sportico reported that Racing Bulls turned down an offer north of $2 billion, while Aston Martin sold a small stake in its team at a valuation above $3 billion. Autosport has noted that U.S. Formula 1 viewership has grown more than 130% since 2018, with average race audiences reaching approximately 1.3 million in 2025.
The New York Post reported that Walter may sell his Cadillac F1 team, following the Lakers sale and plans to sell his Chelsea FC stake. Whether the Formula 1 team actually changes hands remains unresolved, given the conflicting accounts over whether TWG Global has agreed to put it on the market.
