Los Angeles Dodgers owner Mark Walter is reportedly looking to offload another sports franchise, with his Cadillac Formula 1 team now up for sale with an asking price of at least $3 billion, according to Sportico. Walter's motorsports division, TWG Global, also includes teams in IndyCar and NASCAR.
This potential sale follows closely on the heels of Walter finalizing the record-breaking sale of the Los Angeles Lakers for $12.5 billion to Joshua Kushner and Bob Iger. The sale of the NBA team was finalized earlier in November. Less than a week prior to that, Walter and his business partner Todd Boehly announced their intention to sell their stakes in the soccer club Chelsea FC. The timing suggests a strategic divestment from sports assets following significant transactions.