Liverpool owner FSG holds talks over buying majority stake in Cadillac F1 team

Fenway Sports Group, owners of Liverpool FC and Boston Red Sox, have held talks to acquire a majority stake in the Cadillac Formula One team. The potential deal is valued at over £2bn, with some reports suggesting a $3 billion bid. Cadillac is a joint venture between General Motors and TWG Global. Mark Walter of TWG Global is selling sporting assets, including interests in the Los Angeles Lakers and Chelsea, amid allegations of insurance fraud.