Liverpool owners Fenway Sports Group are in talks to buy a majority stake in Formula One team Cadillac.
Mark Walter, the American billionaire worth $6 billion (£4.5 billion), is exploring selling up and FSG are one of the players in talks. Reports suggest Walter is asking for at least $3 billion (£2.2 billion).
Sources suggest nothing is completed yet but talks are ongoing, with FSG keen to add to its portfolio across sports.
The Boston-based giants own the baseball team Boston Red Sox, Liverpool FC and had previously held a controlling interest in hockey team Pittsburgh Penguins.
They are currently selling a stake of around 38 per cent in Liverpool to a consortium led by Amit Bhatia featuring the backing of billionaires Jeff Bezos and Eduardo Saverin.
Walter serves as CEO of an asset management firm and has stakes in the Los Angeles Dodgers, LA Lakers and BlueCo, which owns Chelsea.
Fenway Sports Group are in talks to buy a majority stake in Formula One team Cadillac
Cadillac are rock bottom of the constructors’ championship and is yet to score a single point
FSG, led by John Henry (right), are currently selling a stake of around 38 per cent in Liverpool
FSG have been approached for comment.
Cadillac is making its Formula One debut this season but it has been a horrible campaign so far.
Despite the experience of drivers Sergio Perez and Valtteri Bottas, the team is rock bottom of the constructors’ championship and is yet to score a single point.
Their best finish came at the Chinese Grand Prix back in March, when Bottas managed to secure 13th place.
Cadillac did receive a timely boost last week, however, when Perez agreed to a new contract that will keep him with the American team until 2029.
