Fenway Sports Group has reportedly held talks over a majority stake in Cadillac's F1 project as Mark Walter offloads sporting assets.
Liverpool's owners are looking at the Formula One grid. Fenway Sports Group has reportedly held talks about buying a majority stake in the Cadillac F1 team, in a deal that would be worth more than £2bn.
Cadillac joined the grid this year as a joint venture between General Motors and TWG Global, the company led by Mark Walter. Walter is now selling off parts of his sporting empire amid allegations of insurance fraud.
TWG has already sold its controlling interest in the NBA's Los Angeles Lakers and a 13% stake in Chelsea. It is also reportedly looking to move on the Los Angeles Sparks, the WNBA franchise. A Cadillac sale would be another major piece of that restructuring.
For FSG, a move for Cadillac would push its portfolio well beyond Anfield and into one of the most commercially powerful corners of world sport. With a new team and a major carmaker already on board, the F1 project offers plenty of room to grow. Talks have been held, but nothing has been confirmed, so the next moves will be worth watching.
