Cadillac F1 Seeks $3B Quick Exit

Mark Walter, CEO of investment firm Guggenheim Partners, is seeking buyers for the team despite recently denying plans to sell.

The team cost over $1.4B to launch with automaker General Motors and expects $400M in startup losses this year.

The $3B asking price reflects a massive recent surge in Formula 1 team values, which now average $3.42B globally.

Fintech company Bilt bought Lava, a sports technology startup co-founded by NBA owner Vivek Ranadive, to expand its customer rewards program.

The $300M deal gives Bilt direct access to over 50 pro sports teams and 300 retail checkout systems inside stadiums.

Lava's team will join Bilt to create a new live events division that connects local sports fans to everyday payment rewards.

Financial giant American Express is expanding its role as the official payments partner for both basketball leagues to an international level.

The multiyear agreement includes sponsoring fan events called NBA Houses and supporting upcoming international games in Mexico City, Paris, and Manchester.

The company will also continue sponsoring the season's opening games and maintaining direct business partnerships with teams like the Chicago Bulls.

TikTok will exclusively stream the November 3 draw setting matchups for the WTA Finals, the season-ending event in Indian Wells, California.

Building on a year-old partnership, TikTok's GamePlan sports hub will collect content from the Finals and select top-tier WTA 1000 and 500 events.

TikTok will also back the new WTA Creator Club, giving influencers special access at select tournaments to help women's tennis reach younger fans.

The scrapped plan would have sold private investors a minority stake in FIFA's commercial and event operations, including the World Cup.

UEFA, European soccer's governing body, sent FIFA 42 demands on October 19 with a November 2 deadline, which FIFA has not fully met.

Council members, FIFA's top decision-makers, must register by November 16 to view files in Zurich, though UEFA's US legal case may limit access.

FIFA, soccer's global governing body, agreed in 2024 to pay 100% of Infantino's US taxes after he moved from Switzerland to higher-tax Miami.

The roughly $4M benefit, covering three years on top of his $6M yearly salary, was never disclosed despite FIFA's own pay transparency rules.

Bruno Chiomento, a longtime Infantino acquaintance who chairs FIFA's pay committee and oversees compliance, proposed it with advice from Infantino's personal lawyer.

Migu, streaming partner of state broadcaster CCTV, dropped Madrid's weekend game but aired all other Spanish league matches after the league apologized.

Striker Kylian Mbappé used the word "dictator" about a meme depicting him as former Chinese leader Mao Zedong, and three Chinese brands dropped him.

If blackouts continue, Madrid's Chinese sponsors like TV maker Hisense could lose exposure and try to exit deals, though none has signaled this yet.