Ex-Chelsea stakeholder Mark Walter reportedly seeks US$3b sale of Cadillac F1 stake
NEW YORK: Los Angeles Dodgers controlling owner Mark Walter is looking into selling another one of his sports holdings, the Cadillac Formula 1 team, Sportico reported Monday.
Los Angeles Dodgers owner Mark Walter is reportedly considering selling his stake in the Cadillac Formula 1 team for US$3 billion, according to Sportico. Walter has previously sold shares in the Los Angeles Lakers and Chelsea FC, following their respective US$12.5 billion and US$3 billion sales in August and September. Walter's company, TWG Global, had denied selling the Cadillac team up until August.
Despite recent federal investigations into Walter and TWG Global's financial dealings, the Dodgers owner remains interested in selling the team, with at least seven parties expressing interest. Walter has ruled out selling the Dodgers, who recently lost a bid to secure three consecutive World Series championships.
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