Los Angeles Dodgers owner Mark Walter is shopping his controlling stake in the Cadillac Formula 1 racing team at a valuation of at least $3 billion, with at least seven parties reportedly interested, according to a report by Sportico.
Walter is preparing to put the Cadillac team up for sale, the New York Post reported. The team is finishing its inaugural 2026 season. TWG Global, Walter’s holding company, did not immediately respond to requests for comment from media outlets.
In August, TWG denied any Cadillac sale plans, saying it was “not considering a sale of the Cadillac team or any other part of TWG Motorsport,” as quoted by Reuters. But that stance now appears to have reversed.
Cadillac F1 Results in Debut Season
Cadillac has yet to score a championship point. The team sits last in the constructors standings through the Mexico City Grand Prix, with neither Sergio Pérez nor Valtteri Bottas on the board.
Pérez came closest at Monaco, where a post-race penalty over a restart dropped him from 10th place and erased the team’s first point, according to Racer. Finishes have clustered between 14th and 20th, and Bottas has retired from multiple races.
TWG acquired Andretti Global in 2024, and the General Motors project Michael Andretti launched in 2023 became Walter’s to run. In November 2024, TWG took over key business operations and sponsorship, and F1 granted final approval in March 2025 for Cadillac to join as the 11th team.
The team paid a $450 million entry fee and invested at least $1 billion more to launch, and Sportico projects a $400 million loss for 2026. Cadillac uses Ferrari engines until 2029, when General Motors power units arrive.
Mark Walter’s Rise and the Federal Probe
Walter, 66, was born in Cedar Rapids, Iowa, and earned an accounting degree from Creighton University in 1982 and a law degree from Northwestern in 1985, according to the Los Angeles Times. He co-founded Liberty Hampshire in 1996 and Guggenheim Partners around 1999, and he now leads that firm and TWG Global, which he founded in 2024.
Walter stayed out of the spotlight until 2012, when Guggenheim Baseball Management, whose partners included Magic Johnson and Stan Kasten, bought the bankrupt Dodgers for $2.15 billion, a record at the time, according to The Athletic. Insurer funds financed part of the deal. He later added the Sparks, a stake in English Premier League club Chelsea, the Lakers and majority ownership of Andretti Global and Spire Motorsports.
His group bought the Lakers at a roughly $10 billion valuation in 2025, then agreed to sell the Lakers at $12.5 billion to a group led by Josh Kushner and Bob Iger. He also sold his 12.8 percent Chelsea stake to Clearlake Capital and is seeking more than $700 million for the Sparks.
Those sales coincide with a federal investigation. Prosecutors and the SEC are investigating the Delaware Life and Clear Spring insurers he controls, according to the Times. The insurers received grand jury subpoenas in February, and Delaware Life restated exposure to at least $17 billion, or 39 percent of invested assets, up from the $1.4 billion it first reported.
FBI agents reportedly seized a mobile phone, and policyholders filed a class-action lawsuit alleging the probe went undisclosed. TWG says it committed no fraud. No charges have been filed.
Walter has not said whether the sales are tied to the investigation, and MLB has announced no investigation, according to the Times. Walter told the California Post the Dodgers will stay under his group’s ownership “no matter what.” Nothing revealed publicly has yet indicated that the probe will force a Dodgers sale.
Dodgers Owner Mark Walter Seeks $3 Billion in F1 Team Sale Amid Investigations