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

• Deal would be worth more than £2bn

• Cadillac are jointly owned by Mark Walter

Liverpool’s owner, Fenway Sports Group, has held talks about buying a majority stake in the Cadillac Formula One team for more than £2bn as Mark Walter continues to sell off his sporting assets amid allegations of insurance fraud.

Cadillac entered F1 this year as a joint venture between General Motors and Walter’s TWG Global, which sold its controlling interest in the NBA’s Los Angeles Lakers and a 13% stake in Chelsea this summer, and is also looking to sell Los Angeles Sparks, the WNBA team.