Two months after denying any sale, Mark Walter is shopping a team. Back on August 26, Mark Walter’s TWG Global holding company stated that it was “not considering exiting its stake in the Cadillac Formula 1 team or any other part of TWG Motorsports.” Two months later, that statement is up for debate. After selling his shares of the Lakers and Chelsea F.C., Walter is reportedly shopping another of his teams again. This time, the Cadillac F1 team will be up for sale.

Kurt Badenhausen of Sportico reported on November 2, “Mark Walter is shopping his Cadillac F1 team with an asking price of at least $3 billion, according to three people familiar with the process. There are at least seven parties interested in the team, which is wrapping up its Formula 1 season.”

While Walter has already found interested buyers, no agreement has been reached yet. He holds the controlling shares of the F1 team through TWG, and the Dodgers’ owner aims to make $3 billion in exchange for those shares.

Cadillac is in its first season in Formula 1 and is one of the two American F1 teams at the time. Cadillac’s headquarters are based in Indianapolis. It entered Formula 1 in 2026 as the sport’s 11th team, becoming its first new entrant in a decade.

The F1 team “is a partnership with General Motors and TWG’s Cadillac subsidiary”, per Sportico. Though TWG Global holds the controlling stake, the exact ownership split between the two partners is not publicly disclosed.

TWG and GM reportedly paid a $450 million dilution fee and spent approximately 1 billion to build a functional team. But Cadillac’s debut season has not been smooth. The team has yet to score a point, while Sergio Perez and Valtteri Bottas have struggled against other drivers.

TWG’s motorsports division has two more teams in IndyCar racing and NASCAR. Walter’s sports portfolio has been shrinking since his companies came under federal investigation for fraud.

Let’s have a quick look at what happened after he faced allegations of federal fraud.

Mark Walter sold Lakers and Chelsea FC amid federal investigation

Mark Walter is facing a joint federal investigation by the U.S. Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission. The probe investigates whether Walter improperly used billions of dollars (estimated at over $20 billion) in related-party loans from Delaware Life Insurance Co. and Clear Spring Life and Annuity for his own private business and sports investments without adequate disclosure to policyholders and regulators.

Walter, TWG Global, Delaware Life, Clear Spring Life, and Guggenheim Partners are also facing class-action and policyholder lawsuits that allege concealing the federal probe caused policyholders to miss surrender/refund windows, turning costless exits into steep penalties.

To handle the fallout, Walter has opted to sell his stakes in several sports teams he owns. It started with the Los Angeles Lakers in August.

Walter sold his controlling stake in the Lakers to a group led by businessman Joshua Kushner and former Disney CEO Bob Iger for $12.5 billion. The transaction marked a record valuation for a professional sports team. Walter bought the Lakers in 2025 for $10 billion, per reports.

After the Lakers, Mark Walter sold his 13% stake in Chelsea FC, which he jointly owned with Dodgers co-owner Todd Boehly. Walter and Boehly reportedly earned approximately $1.27 billion.

While nothing is finalized yet, Bloomberg has reported that Walter is exploring a potential sale of the WNBA’s Los Angeles Sparks. The asking price is reportedly around $700 million.

Walter’s recent moves amid the federal investigation have understandably raised questions about the future of Walter’s most prominent baseball investment, the Los Angeles Dodgers.

However, Walter has maintained that he is not going to sell the Dodgers. Speaking to the California Post last week, he reiterated his commitment to the franchise, stating, “We’re going to keep the team no matter what.”

The Dodgers belong to Walter’s most successful commitment in sports. Since acquiring the franchise in 2012 for approximately $2.15 billion, the Dodgers have won three World Series titles. The team’s sporting success and commercial growth have significantly increased its market value.

The Los Angeles Times has previously estimated that a potential Dodgers sale could generate between $10 billion and $13 billion. For now, however, Walter appears intent on retaining the franchise while reconsidering his other sporting investments.

For now, we can only wait and watch whether the reported Cadillac sale materializes or not.