Mark Walter is shopping Cadillac F1 at $3 billion and the Sparks at $700 million: the sale ledger that surrounds the Lakers’ $12.5 billion deal

Mark Walter has now put a price tag on a fourth piece of his sports empire. Sportico reported on Monday, Nov. 2 that he is shopping the Cadillac Formula 1 team with an asking price of at least $3 billion and at least seven interested parties, after his holding company said in August that it was not considering an exit. The Lakers, whom he agreed to sell for an NBA-record $12.5 billion, are the largest asset on the list, and the only one the NBA has to approve.

Mark Walter is shopping his Cadillac F1 team with an asking price of at least $3 billion, according to three people familiar with the process. There are at least seven parties interested in the team, which is wrapping up its Formula 1 season.

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— Sportico (@Sportico) November 2, 2026

The ledger so far

Here is where each of Walter’s sports holdings stands, using the figures reported by Sportico, Bloomberg, the Los Angeles Times and CBS Sports:

Asset	Status	Reported price
Los Angeles Lakers	Sale agreed, formal signing and league vote still ahead	$12.5 billion valuation for the whole team
Chelsea FC stake	Sold to majority owner Clearlake Capital	About $1.27 billion, per the Financial Times, for the stake Walter held with Todd Boehly
Los Angeles Sparks	For sale, with a practice facility due to open in 2027	$700 million asking, for the team and a $150 million facility
Cadillac F1 team	Buyers circling; no deal announced	At least $3 billion asking
Los Angeles Dodgers	Walter says not for sale “no matter what”	A sale could bring $10 billion to $13 billion, per Bill Shaikin

The prices are not directly comparable. The $12.5 billion is what the entire Lakers franchise is worth in the deal, not what Walter collects. He stands to make close to $4 billion on the team he bought a year ago. The $3 billion for Cadillac is described as a team valuation in one report and as the price for Walter’s interest in another, and the split between Walter’s company and General Motors has not been made public.

A denial that did not last

TWG Global, Walter’s holding company, said in August that the Dodgers were not being sold and that it was not considering exiting its stake in the Cadillac team. Bloomberg reported on Monday that TWG has not agreed to a deal or announced that the team is on the market, and a person in contact with Walter told Shaikin to wait and see whether a Formula 1 deal actually materializes.

The Sparks followed the same path. Bloomberg reported on Oct. 23 that Walter wants $700 million for the franchise and its El Segundo practice facility. That would beat the $300 million Tilman Fertitta paid for the Connecticut Sun, the current record for a WNBA sale. Walter bought the Sparks for about $10 million in 2014. The team went 16-28 this year and has missed the playoffs six straight seasons, so our reading is that a buyer would be paying for the market and the building more than the roster. Earlier this month the Golden State Valkyries became the first women’s team to report more than $100 million in annual revenue, the benchmark any Sparks bidder is likely to point to.

Why the sales are happening

The reason is the federal inquiry into his insurance businesses, where prosecutors in Manhattan and the Securities and Exchange Commission are examining about $16 billion in loans to companies tied to Walter or TWG that ended up on the books of insurers he owns. TWG has said Walter and the company acted in good faith. Shaikin wrote that Walter, who is also a defendant in civil suits from investors, may need more than $20 billion to recapitalize the insurers and satisfy state regulators. Bloomberg reported in August that one of the insurers would cut the scrutinized loans by $6.5 billion.

Cadillac is also an unusual asset to sell now. The team joined the grid as the 11th entrant, after TWG and General Motors paid a $450 million dilution fee and put in at least $1 billion more. It is on track to lose about $400 million this year, according to multiple sources, and it has not scored a point. Sportico valued the 10 teams on the grid last year at an average of $3.42 billion, up 48%. If $3 billion is the value of the whole Cadillac team, it sits just below that average; if it is only Walter’s share, it implies a higher figure.

What it means for the Lakers

Not much changes on paper. The league’s review is about the buyer, Josh Kushner and Bob Iger, their financing and the ownership structure, and it starts after Walter and Kushner sign the agreement they settled every remaining term on. Three-quarters of the 30 owners, or 23 votes, must then approve. Walter’s own purchase took four and a half months from agreement to the board vote, and the Celtics’ sale took five.

The sales do matter for timing and for pressure. The Lakers are by far the largest source of cash on Walter’s list, so he has more reason than anyone to see the deal closed quickly. The one open question inside the Lakers is not about Walter at all: Jeanie Buss’s court fight over her siblings’ right to sell the Buss family trust’s 17.8% stake goes to a hearing on Dec. 8. For the full ownership chain, see our look at who owns the Lakers, step by step.

What we don’t know

Nobody has named a Sparks bidder, and Kushner and Iger are reportedly not interested. TWG has not confirmed the Cadillac process, Walter’s share of the team is unknown, and no one outside the company can say whether the Dodgers stay off the list if the F1 sale falls short. Our reading is that the next signals will be the formal Lakers signing, a named buyer for either team, and whether TWG repeats or changes its August statement.