Cadillac F1 team owner reportedly considering $3 billion sale in shock decision

American billionaire Mark Walter is reportedly exploring selling his controlling stake in Cadillac Formula 1 team, with an estimated asking price of more than $3 billion.

According to a report published by Sportico on Monday, at least seven parties are interested in buying the team, which is controlled by Walter through his ownership of TWG Global. The brand currently operates five motorsport teams across several racing series. Sources told The Athletic that the valuation of Walter’s stake is above $3bn, or around £2.2bn.