Liverpool's owners in talks over a majority stake in Cadillac F1

Fenway Sports Group, the American company that owns Liverpool, has held talks about buying a majority stake in the Cadillac Formula One team for more than £2bn, The Guardian reported. A majority stake means owning more than half of a company's shares, which would give the buyer control.

Fenway Sports Group, usually called FSG, is a sporting portfolio with a wide reach. It holds majority stakes in the Boston Red Sox baseball club and the Pittsburgh Penguins ice hockey team, and a 50% stake in the NASCAR team RFK Racing. It is also in the middle of a major Liverpool deal. In the summer, FSG sold 38% of the club to a consortium that includes Jeff Bezos and Eduardo Saverin. That group has an option to complete a full takeover at Anfield before August 2027. Liverpool was valued at £5.5bn after the partial sale. FSG paid £300m for the club in 2010.

Cadillac entered Formula One in 2026 as a joint venture between General Motors and TWG Global, the investment firm led by Mark Walter. Walter is the controlling owner of the Los Angeles Dodgers in Major League Baseball. Bloomberg reported on 2 November that he is weighing a sale of the Cadillac team at an asking price of at least $3bn. Sportico has previously reported that Walter values his Cadillac shareholding at about £2.24bn.

TWG has denied that a sale of Cadillac is imminent. In August, the company said its motorsport interests, including the Cadillac team, would not be changing hands. Things have moved on since then, with buyers now openly circling. TWG has also been selling assets elsewhere. It sold its controlling interest in the NBA's Los Angeles Lakers in the summer and a 13% stake in Chelsea. It is also looking to sell the Los Angeles Sparks of the WNBA.

Walter is also under investigation by the US Department of Justice and the Securities and Exchange Commission. The probes concern alleged fraud involving the management of funds at Delaware Life, Clear Spring and EquiTrust. TWG has responded: "there has been no fraud." These are allegations, and no charges have been reported.

For F1 fans, the number that stands out is the sport's money. Formula One's annual revenue has more than doubled to $4bn (£3bn) since Liberty Media bought it in 2017. That growth is a big part of why a team can be priced at billions. It is also why a team with a new owner or a new partner could change the picture for the grid, from budgets to the way the sport is run. For now, though, nothing has been agreed, and TWG says a sale is not imminent.