FSG’s $3bn Cadillac F1 move faces unexpected NASCAR blocker

John Henry's Fenway Sports Group (FSG) have been the main name mentioned as a potential buyer for Cadillac's F1 operation, but they could hit one snag in the process.

It was reported at the start of the month that Cadillac owner Mark Walter, through his company TWG Global, is exploring a sale of F1's newest team for a sum in the region of $3bn.

FSG, who own the Boston Red Sox, the Pittsburgh Penguins and a large part of Liverpool FC, are one of a number of potential suitors - but it's one of their other sports investments which could prove problematic.

The American group owns 50 per cent of NASCAR team RFK Racing - the 'F' stands for Fenway - which is currently undergoing its own ownership change.

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NASCAR ownership kerfuffle could halt Cadillac bid

2012 Cup Series champion Brad Keselowski bought a 20 per cent stake in the team in 2021, also joining as one of the team's drivers, before a shock announcement last month that he would depart the organisation at the end of the season.

However, despite Keselowski being a free agent as a driver, he remains a part-owner of the team until his stake is 'unwound' - the two parties are currently working out a deal to do so - which presents a minor complication.

The Athletic report that part of the Keselowski's contract with FSG stipulates that neither party can pursue a non-NASCAR motorsport venture without the other's agreement, which the veteran driver has not yet given.

It's unclear whether Keselowski would use that contract clause as leverage in negotiations over his RFK ownership stake.

The issue may add some urgency to the negotiations around that stake though, as the contract ends once the veteran's ownership stake is unwound, leaving FSG free to pursue a deal for Cadillac.

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