FSG considers majority stake in Cadillac F1 team

Fenway Sports Group is considering buying a majority stake in Cadillac’s Formula One team for more than £2 billion, according to reports of discussions involving the Liverpool owner. No sale has been announced and no agreement has been reached, according to reporting published in November. The Guardian reported that FSG was among potential buyers interested in Cadillac, which is jointly owned by General Motors and TWG Global, led by Mark Walter. The reports describe FSG’s potential purchase as a majority stake, but do not establish that the group has made a formal offer or agreed terms with the owners. The figures reported for a possible transaction refer to different measures. The Guardian’s figure of more than £2 billion concerns the price for a majority stake. The Wall Street Journal separately reported a team valuation above £3 billion, while Sportico reported an asking price of at least £3 billion. None of those figures establishes an agreed sale price. Bloomberg reported on November 2 that potential buyers had expressed interest, but TWG Global had not announced that Cadillac was for sale and no agreement had been reached. In August, TWG Global said it was not...