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Cadillac F1 team owner evaluating $3 billion sale after sudden U-turn

Billionaire Mark Walter is reportedly exploring a $3 billion sale of his controlling interest in the Cadillac Formula 1 operation, reversing TWG Global's previous public denials from August regarding a potential exit. Sportico indicates that at least seven parties have expressed interest in acquiring the newest grid entrant amid ongoing financial probes tied to Walter's business ventures and his recent divestments from Chelsea FC and the Los Angeles Lakers.

Despite boasting veteran pilots Sergio Perez and Valtteri Bottas alongside manufacturer backing, the outfit has faced steep operational and startup expenses during its debut campaign, while Perez is locked in through 2029 and Colton Herta has been linked to potential future seats.

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