Claim: Cadillac F1 owner preparing to buy Los Angeles Lakers

The purchase would value the Lakers at over $10 billion, making it the largest sale of a professional sports team ever.

The Los Angeles Lakers are the second-most-winner team in NBA history with 17 championships. The team is known worldwide for both its history and brand value.

TWG Global has a broad sports portfolio: in addition to Cadillac and the Lakers, it is the primary owner of the Los Angeles Dodgers and also has minority stakes in football clubs Chelsea and RC Strasbourg.

TWG Global took over the Formula 1 project led by Michael Andretti last year. After intense discussions, the Cadillac F1 team secured its place on the grid for the 2026 season. This will be the first time the sport has had more than 10 teams competing since 2016.

Cadillac has reached an agreement with Ferrari to use its powertrain and transmission. This transitional plan will be completed when General Motors aims to produce its own engine by 2028.

Graeme Lowdon has been appointed as team principal, but a driver line-up is yet to be announced.