Cadillac F1 owner eyes $3bn team sale as at least seven bidders circle

Cadillac are reportedly up for sale, with owner Mark Walter looking for a price of around $3billion (£2.25bn).

Walter controls F1's newest team through his ownership of TWG Global which runs the Cadillac operation.

However, in a report by Sportico, Walter is already looking to sell up, with as much as seven parties interested in buying his stake.

Only last month TWG Global denied the team were for sale, saying: “TWG is not considering exiting its stake in the Cadillac Formula 1 team or any other part of TWG Motorsports"

GPFans contacted Cadillac F1 for comment.

The value of F1 teams continue to soar year-on-year, with the 10 teams (without Cadillac) last year being valued at $3.42bn (£2.55bn) on average which represented an increase of 48 per cent form the previous year.

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Cadillac's tough F1 debut

TWG run the Cadillac team in partnership with General Motors. Between the parties they paid a $450million (£335m) dilution fee before then investing a further $1bn (£750m) to get the project going.

However, it's been a very tough first season for Cadillac, who sit bottom of the constructors' championship as the only team yet to score a point.

The campaign has seen team principal Graeme Lowdon axed halfway through to be replaced by Marcin Budkowski, and the team still haven't confirmed their driver lineup for 2027.

Sergio Perez has recently signed a new deal, but Valtteri Bottas's place in the team for 2027 is uncertain despite reportedly signing a multi-year contract.

The team itself though is reportedly on track to lose $400m (£298m) but this consists of one-time start up costs as well the commercial business side still getting up to speed.

Walter has recently sold two sporting assets in the form of his 12.8 per cent stake in Premier League side, Chelsea Football Club, as well as $12.5bn (£9.3bn) for the NBA team the LA Lakers for a profit just a year on from buying them.

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