From Jalopnik · Ryan Erik King · · 50s
Cadillac F1 Team Sale After One Year
Mark Walter sells Cadillac F1 Team after zero points in debut season amid federal probes.
In brief
Mark Walter sells Cadillac F1 Team after zero points in debut season amid federal probes. Mark Walter is selling his Cadillac F1 Team after one season with no points due to federal investigations into alleged self-dealing. Originally reported by Jalopnik.
Cadillac F1 Team Sale
Mark Walter sells Cadillac F1 Team after one season with no points.
Federal Investigations
U.S. Department of Justice and SEC probe alleged self-dealing by TWG-owned insurance companies.
Financial Background
Walter bought Los Angeles Dodgers for $2.15 billion in 2012 and owns 27% of franchise.
Team Performance
Cadillac F1 Team scored zero points in debut season with no wins or podiums.
Sale Details
TWG Group sells team stake at $3 billion valuation to Fenway Sports Group.
The bottom line
Mark Walter is selling his Cadillac F1 Team after one season with no points due to federal investigations into alleged self-dealing.
