Buyers have “begun circling” Mark Walter and the Cadillac F1 team, although TWG Global “hasn’t agreed to a deal or announced that the team is on the market,” according to sources cited by Christopher Palmeri of BLOOMBERG NEWS. Walter, whose insurance firms are being probed by federal prosecutors, has already sold the Lakers, sold his stake in Premier League club Chelsea FC and is reportedly in talks to sell the Sparks. Sportico first reported on Monday that Walter is weighing a sale of the team at an asking price of at least $3B (BLOOMBERG NEWS, 11/2). In L.A., Bill Shaikin wondered if Walter “isn’t selling the Dodgers.” TWG Global issued a statement in August that was “definitive in two specific aspects: the Dodgers were ‘not being sold’” and that the company “was ‘not considering exiting its stake in the Cadillac Formula 1 team.’” A source in contact with Walter said that fans should “wait and see if a Formula One deal actually materializes and, if so, for what value.” Potential Dodgers bidders, including L.A. Times owner Dr. Patrick Soon-Shiong, are “considering offers should Walter decide to sell.” Some have “inquired discreetly and been told what everyone has been told: the team is not for sale.” Shaikin: “For today, and for the immediate future, the Dodgers are not for sale. But plans can change, as Walter’s Formula One team just learned” (L.A. TIMES, 11/2).
