Mark Walter reportedly looking to sell F1 team sake months after selling Lakers and Chelsea

Los Angeles Dodgers owner Mark Walter continues to look for ways to bring in cash. Just months after selling his shares in both the Los Angeles Lakers and Chelsea, Walter is reportedly looking to sell stakes in his Cadillac F1 team, per Sportico.

Walter is reportedly seeking at least $3 billion for his shares, per Sportico, which reported at least seven different parties were interested in purchasing the team.

Walter’s company, TWG Global, did not respond to requests from Sportico looking into the possible sale.

The report comes months after Walter shockingly sold the Lakers to a new ownership group led by Josh Kushner and Bob Iger. That pair purchased the team for a record $12.5 billion. It was a stunning turnaround from Walter, who bought the Lakers for $10 billion last June.

The franchise sales come after it was reported in July that Walter and his company were the subject of a federal investigation. Walter and his companies are accused of investing money from policyholders into other companies owned by Walter without propely disclosing that information to investors. There are accusations that Walter used those compaies — and that money — to fund his purchase of the Dodgers.

At the time of the Lakers’ sale, TWG Global released a statement adamantly denying those allegations and doubling down on its intent to keep the Dodgers. In that statement, however, TWG Global also called out Walter’s Cadillac F1 team, saying it was “not considering exiting its stake” in the venture.

Monday’s report suggests Walter and TWG Global have since reversed course on that stance.