The Cadillac F1 Team is For Sale – If You Have $3 Billion
Rumors have been swirling for months and now it appears, where there's smoke, there's fire. And we're not just talking about the Cadillac F1 team's brake issues.
Rumors have been circulating for months about the potential sale of the Cadillac Formula 1 team, with an asking price of $3 billion and at least seven interested parties, according to sources. Despite a disappointing debut season, the team's valuation remains high. Mark Walter, who controls the team through TWG Global, is exploring a sale of his stake in the F1 team.
TWG, which also holds stakes in IndyCar and NASCAR, operates the team jointly with General Motors. The firm had previously ruled out selling the Cadillac F1 team or any other part of its motorsports portfolio. However, the move to sell the team would reverse this stance. The Cadillac F1 team has yet to score a point this season, and TWG is reportedly operating at a loss of about $400 million.
The team's valuation has increased significantly due to the cost cap and commercial expansion in Formula 1.
Written by urgent.news from Yahoo Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
