Liverpool’s owner has held talks to buy into Cadillac’s F1 team

Cadillac’s Formula 1 team has not finished its first season yet, and it may already be changing hands.

Fenway Sports Group, the Boston company that owns Liverpool FC and the Boston Red Sox, has held talks about buying a majority stake in the team, the Guardian reported on Wednesday. The paper put the price at more than £2 billion. FSG declined to comment.

The team’s current owners are TWG Global, the investment firm run by Dodgers owner Mark Walter, and General Motors. They started the team together this year. How much each one owns has never been made public.

How we got here

The sale talk went public on Monday. Sportico, citing three people familiar with the process, reported that Walter was shopping the team with an asking price of at least $3 billion and at least seven interested parties. That figure is for the whole team. It is not what Walter would personally collect, since GM is also an owner.

That is a change. Earlier this year, TWG said it was “not considering exiting its stake in the Cadillac Formula 1 team.” This week it told reporters a sale is not imminent, while the Guardian says talks have taken place with several parties, FSG among them. Sports Business Journal, citing the Wall Street Journal, also named FSG as a suitor.

This is it. Today, Checo Perez is set to make his 300th Grand Prix start, becoming just the seventh driver to achieve the feat in F1 💪 pic.twitter.com/L4ApW48px3

- Cadillac Formula 1 Team (@Cadillac_F1) November 1, 2026

The cost of getting on the grid

Entering F1 is expensive. Sportico reports that TWG and GM paid a $450 million dilution fee to the existing teams, plus at least $1 billion more to build the operation. It also says the team is on track to lose about $400 million this year, mostly on startup costs.

On track, the year has been hard. Cadillac sits last in the constructors’ standings and had not scored a point going into this weekend’s race in São Paulo. There have been bright spots. Sergio Pérez made his 300th Grand Prix start in front of a home crowd in Mexico City last Sunday. Two days later the team posted video of its first team showrun.

Why FSG wants in

FSG already has a foot in motorsport through its 50% stake in the NASCAR team RFK Racing. A source quoted by the Guardian said F1’s growth in the US is the draw. The paper puts Formula 1’s yearly revenue at about $4 billion.

FSG is looking at other sports investments after selling 38% of Liverpool this summer to a consortium that includes Jeff Bezos and Facebook co-founder Eduardo Saverin, according to the Guardian.

The background noise

Walter has been selling sports assets this year, including his stakes in the Lakers and Chelsea, according to Yahoo Sports. The Guardian reports that Walter is under investigation by the US Justice Department and the SEC over alleged fraud involving funds at his insurance companies. TWG has said “there has been no fraud.” No charges have been filed, MotorBiscuit reports.

For now, nothing is signed. Last year Sportico valued the 10 teams then on the grid at an average of $3.42 billion. GM has not said whether it would keep its share.

Video: "First Team Showrun | Cadillac Formula 1® Team", Cadillac Formula 1® Team on YouTube.

Editorial only, not financial advice.

Top photo: Dinkun Chen via Wikimedia Commons, CC BY-SA 4.0.