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

Fenway Sports Group (FSG), owner of Liverpool FC, has held talks to acquire a majority stake in the Cadillac Formula One team for more than £2bn. Cadillac entered F1 this year as a joint venture between General Motors and Mark Walter's TWG Global. Walter is selling off sporting assets amid allegations of insurance fraud, having already sold his controlling interest in the NBA's Los Angeles Lakers and a 13% stake in Chelsea this summer.