Mark Walter, the businessman behind Formula 1’s newest team, has sold his controlling stake in the Los Angeles Lakers for a reported $12.5 billion, barely a year after buying the NBA franchise. The rapid turnaround has prompted speculation, so far unconfirmed, about what it might mean for his majority ownership of the Cadillac F1 team.

A quick and profitable exit

Walter purchased the Lakers from the Buss family in a deal valuing the team at $10 billion, agreed in mid-2025 and closed that October. He has now sold his stake to Josh Kushner and former Disney chief executive Bob Iger for $12.5 billion, a profit of roughly 25% in around 10 to 14 months, according to reporting cited in the brief from GPFans.com and other outlets.

“As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” said Josh Kushner and Bob Iger, the new co-owners.

Jeanie Buss is expected to remain team governor, continuing to oversee day-to-day basketball operations under the new ownership. Kushner and Iger also addressed the outgoing family in their statement, saying they had “immense respect for the leadership and vision of Jerry and Jeanie Buss.”

Federal scrutiny and a sprawling portfolio

The sale comes as companies tied to Walter face a federal fraud investigation by prosecutors in Manhattan, running alongside a separate inquiry by the US Securities and Exchange Commission. Both probes concern allegedly undisclosed related-party loans between insurers Walter controls and other entities linked to him. The FBI is reported to have executed at least one search warrant in September, seizing a mobile phone connected to the case, and the investigation reportedly stems in part from an earlier prosecutorial look at Guggenheim Partners’ roughly $362 billion asset management arm, where Walter serves as chief executive.

Walter is also CEO and co-chairman of TWG Global, a conglomerate whose sprawling sports holdings include the Los Angeles Dodgers, a stake in Chelsea FC and Strasbourg via the BlueCo ownership vehicle, the LA Sparks with Magic Johnson, and backing for the Professional Women’s Hockey League. Reports have suggested Walter could also be looking to sell his Chelsea stake, and Bloomberg has reported he may be shedding assets to raise cash tied to the loan issues and limit further exposure to government investigators, according to the brief.

What it means for Cadillac’s F1 team

TWG Global holds a majority stake in the Cadillac Formula 1 team through TWG Motorsports, in partnership with General Motors, alongside other motorsport interests including Andretti Global in IndyCar and Formula E. There is no confirmed report that this stake is for sale. However, the Financial Times has reported that TWG Global may be exploring further asset sales, loan refinancing, company restructuring and outside investment amid the scrutiny it faces, which has kept the question open for those following the sport.

Adding to the intrigue, Cadillac F1 replaced team principal Graeme Lowdon with former Renault and Alpine executive Marcin Budkowski on the same day the Lakers sale was announced. Multiple outlets have noted the coincidence, though none have confirmed a direct link to Walter’s broader business situation. For now, the Cadillac team’s ownership remains unchanged, even as the rest of Walter’s portfolio appears to be in motion.

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