Liverpool owner FSG in talks to buy majority of Cadillac F1 team for more than £2bn

Formula One could soon have a new big-money owner. Fenway Sports Group, owner of Liverpool, has held talks about buying a majority stake in the Cadillac F1 team for more than £2bn, The Guardian reports. Cadillac entered F1 this year as a joint venture between General Motors and Mark Walter's TWG Global, which sold its controlling interest in the NBA's Los Angeles Lakers and a 13% stake in Chelsea this summer. Walter, 66, is under investigation by the US Department of Justice and the SEC over alleged fraud involving his insurance companies; TWG says "there has been no fraud." TWG denies a sale is imminent. FSG, which also holds majority stakes in the Boston Red Sox and the Pittsburgh Penguins, sold 38% of Liverpool this summer to a consortium including Jeff Bezos and Eduardo Saverin. Sport's richest owners keep reshuffling the deck.