Mexican driver Sergio "Checo" Perez has agreed to continue with Cadillac through 2029, a move that coincides with a potential shift in the ownership of the American team. A report by Sportico, published on Monday, suggests that Mark Walter, the businessman with a significant stake in the team, is considering selling the operation, which could be worth at least $3 billion.
Multiple parties have expressed interest in acquiring the organization, which made its Formula 1 debut in the 2026 season as the 11th team on the grid. At this time, the identities of the interested buyers and the terms of any potential negotiations remain undisclosed.
TWG Global, the parent company of TWG Motorsports, which oversees Cadillac's sports operations, appears poised to alter its position on a key issue. In August, the company had previously denied rumors of plans to divest its stake in the Formula 1 project, following speculation about the potential sale of its sports assets.
Cadillac F1 team owner Mark Walter is reportedly seeking a minimum of $3 billion for the team as it concludes its Formula 1 season. At least seven potential buyers have expressed interest in acquiring the team.
TWG Global has declined to comment on the potential sale of its equipment, with the exact scope of the sale remaining uncertain due to the company's partnership structure with General Motors. The distribution of shares among partners has not been disclosed, complicating efforts to determine the extent of the equipment that could be put up for sale.
Walter, the American businessman and owner of the Los Angeles Dodgers in the Grand League, is reportedly divesting stakes in various sports franchises, potentially signaling an eventual exit from his involvement with Cadillac.
A landmark agreement has been reached, marking a significant milestone in the sports franchise market. The transaction involves the sale of a majority stake in the Los Angeles Lakers for a record-breaking $12.5 billion.
Walter has divested his interests in Chelsea, an English Premier League team, and is reportedly considering the sale of the Los Angeles Sparks, a WNBA franchise, which could fetch approximately $700 million.
Negotiations surrounding Cadillac's potential involvement in the championship may occur concurrently with the scooter's early-season efforts to secure its first points in the constructor standings. The addition of Cadillac to the category in 2026 has increased the number of participating teams to eleven.
Mexican driver Sergio Pérez's contractual obligations remain unchanged, despite ongoing uncertainty surrounding the ownership of a scooter. Pérez returned to the Formula 1 category in 2026, following a one-year absence, and has taken on a key role within the project, alongside Finnish driver Valtteri Bottas.
Mercedes driver Valtteri Bottas' long-term prospects with the team remain uncertain ahead of the 2027 season.
Pérez has secured his position at Cadillac through a contract extension, set to remain in effect until at least 2029. The announcement was made on October 28, coinciding with the Mexico City Grand Prix. This move provides continuity for the Mexican driver within the team's structure, despite ongoing speculation regarding potential changes in the team's ownership.
The report on the sale does not provide information regarding potential implications for the team's leadership, its sporting objectives, or existing agreements with its drivers in the event of an operation.
