RFK Racing Co-Owner Eyes Major Investment in NASCAR Rival’s Formula 1 Team

John Henry’s Fenway Sports Group is reportedly interested in a stake in Cadillac’s Formula 1 operation, which shares an ownership group with Spire Motorsports.Two NASCAR Cup Series ownership groups could soon have another business connection, and the deal being discussed has nothing to do with stock cars.Fenway Sports Group, the investment company led by Boston Red Sox owner and RFK Racing co-owner John Henry, is reportedly among the parties interested in purchasing a stake in Cadillac’s Formula 1 team.The potential investment would bring Fenway into business with TWG Motorsports, the company behind Cadillac’s F1 operation and the majority owner of NASCAR’s Spire Motorsports.According to The Wall Street Journal, Fenway Sports Group is among several prospective investors in discussions over a portion of billionaire Mark Walter’s Cadillac ownership stake. No agreement has been announced, and the size of Fenway’s potential investment remains unknown.For NASCAR, the development creates an intriguing possibility: One of the sport’s longest-established ownership groups could become a financial partner in an international racing venture controlled by the company behind one of its Cup Series competitors.How RFK Racing and Spire Motorsports Could Become Business PartnersHenry has been involved in NASCAR since 2007, when Fenway Sports Group purchased an ownership interest in Jack Roush’s racing organization. The operation eventually became RFK Racing, with Brad Keselowski joining the ownership group in 2022.Nearly two decades after Fenway first entered NASCAR, its latest reported investment interest involves a company with an increasingly significant presence across professional motorsports.TWG Motorsports, led by CEO Dan Towriss, has ownership interests in several major racing organizations, including Spire Motorsports, Andretti Global and Wayne Taylor Racing.The company also partnered with General Motors to bring Cadillac onto the Formula 1 grid in 2026.That connection is what makes Fenway’s reported interest particularly noteworthy for NASCAR.An investment in Cadillac would not give Henry or Fenway Sports Group an ownership stake in Spire Motorsports. The two racing teams would remain separate organizations competing against each other in the Cup Series.It would, however, establish another business relationship between Fenway and TWG, placing two companies with significant NASCAR investments on opposite sides of the same Formula 1 venture.Is Spire Motorsports Being Sold?Despite Walter’s willingness to entertain offers for part of his Cadillac investment, there is no indication that Spire Motorsports is being put on the market.The Athletic reported Tuesday, Nov. 3, that TWG Motorsports is not currently seeking buyers for its other racing properties, including Spire, Andretti Global, Wayne Taylor Racing and Walkinshaw Andretti United.The distinction is important because Walter’s potential Cadillac transaction comes amid a broader reshuffling of his professional sports investments.In recent months, Walter has agreed to sell his controlling interest in the Los Angeles Lakers and sold his stake in English soccer club Chelsea. His business dealings have also come under scrutiny as federal investigators examine transactions involving insurance companies connected to his business interests. TWG Global has denied wrongdoing.Meanwhile, interest in Cadillac’s Formula 1 operation has reportedly been substantial.Sportico reported Monday that Walter was exploring a sale at a valuation of approximately $3 billion. The Athletic subsequently reported that the valuation being sought exceeds $3 billion, with more than 20 parties expressing interest and fewer than seven considered serious potential buyers.For now, Spire remains part of TWG’s motorsports portfolio, and the discussions surrounding Cadillac do not represent a proposed sale of the NASCAR team.Fenway’s Potential F1 Investment Comes at a Pivotal Time for RFK RacingThe reported talks also arrive as RFK Racing faces significant decisions about its own NASCAR future.Keselowski is preparing to leave the organization following the 2026 season, with his departure creating questions about the team’s ownership structure, leadership and competitive direction.RFK has also been pursuing an additional Cup Series charter as it prepares for 2027, an investment that would further expand the organization’s NASCAR commitments.Fenway Sports Group’s interest in Cadillac therefore comes at a particularly consequential moment. The company is exploring another major motorsports investment while its existing NASCAR operation navigates an important transition.Whether those discussions ultimately produce a deal remains to be seen.What is already clear is that the business interests behind NASCAR’s Cup Series teams increasingly extend far beyond the garage. Fenway’s potential involvement with Cadillac would be another example, connecting two NASCAR ownership groups through one of Formula 1’s newest organizations.