Liverpool owner FSG holds talks over buying majority stake in Cadillac F1 team

Fenway Sports Group (FSG), which owns Liverpool, has held talks about buying a majority stake in the Cadillac Formula One team for more than £2bn. The discussions come as Cadillac co-owner Mark Walter’s TWG Global considers selling some of its sports investments, while FSG explores further opportunities.

Cadillac joined F1 this year as a joint venture between General Motors and TWG Global. Walter is under US investigation over alleged fraud involving funds at three insurance companies; TWG denies any fraud and says a Cadillac sale is not imminent. FSG has also invested in the Boston Red Sox, Pittsburgh Penguins and NASCAR team RFK Racing, and sold 38% of Liverpool this summer, valuing the club at £5.5bn. Cadillac are bottom of the constructors’ championship and have yet to score a point.