EL7.AI
Mergers & AcquisitionsMedium•3 November 2026•
3 min read

Asking price of at least $3 billion for Cadillac team as buyers show interest

Key Facts

1Buyers have begun expressing interest in the Cadillac team, according to a Bloomberg report published on November 2, 2026.
2Walter is considering an asking price of at least $3 billion, according to the report citing Sportico.
3TWG Global has not reached an agreement or announced that the team is for sale.
4The team recorded 15 retirements out of 19 Grands Prix in the 2026 season.

Buyers have begun expressing interest in Mark Walter’s Cadillac Formula 1 team, according to a Bloomberg report published on November 2, 2026, citing people familiar with the matter. The report describes the development as being at an early stage, with the team’s owner not having announced that it is for sale. TWG Global has also not reached an agreement on a deal, Bloomberg reported. The report cited Sportico as saying Walter is considering a sale at an asking price of at least $3 billion. That figure is a reported asking price, not an agreed valuation or a confirmed deal value.

Bloomberg’s report does not identify the interested buyers, nor does it confirm that Fenway Sports Group is involved in the discussions. The team is owned by General Motors and TWG Motorsports, an arm of TWG Global, according to The Associated Press. Walter and Thomas Tull are co-chairmen of the group, the news agency reported. The buyers’ interest therefore comes in the context of a team with joint ownership, while the report does not establish an agreement or an official sale process. The $3 billion price, as reported by Bloomberg citing Sportico, remains an asking price under consideration.

Cadillac received official approval to enter the Formula 1 championship in the 2026 season, according to The Associated Press. The team currently uses a Ferrari power unit, according to its page on Formula 1’s website. The Associated Press reported that the team would use Ferrari engines for its first two seasons, until General Motors’ Cadillac engine is ready to compete in the 2028 season. The team’s official page gives a different date for General Motors’ power unit, saying it is scheduled to debut from 2029. This information provides context on the team’s technical build-out, while the sources do not link this timeline to buyers’ interest or the asking price.

The team’s statistics on Formula 1’s website show it recorded 15 retirements out of 19 Grands Prix in the 2026 season. Those figures describe the team’s season tally and do not in themselves explain buyers’ interest or provide a basis for the reported asking price. In a broader account of Walter’s moves in sports assets, The Associated Press said he sold his stake in the Los Angeles Lakers in the month before news broke of the sale of his stake in Chelsea in September 2026. This places potential interest in the Cadillac team within a series of sports divestments reported by the news agency. Bloomberg’s report did not give a timeline for a decision on the team or specify next steps.