Cadillac F1 team owner issues firm statement over sale talk
The Cadillac Formula 1 team is not being considered for sale, according to the TWG Global group that owns it, amid a US federal investigation into billionaire Mark Walter.
Four intermediary companies within Walter's business empire are subject to investigations in the United States over alleged undisclosed loans between his own companies.
Walter made headlines recently as he instigated the sale of his stake in the Los Angeles Lakers basketball team just 14 months after purchasing it. That led to speculation over the future of other sporting entities in which he owns a stake, which include Chelsea Football Club, the Los Angeles Dodgers baseball team, and the motorsport teams under his TWG Motorsports investment umbrella.
Those motorsport teams include the Cadillac F1 team and the Andretti Global IndyCar and Formula E teams.
In a statement issued ahead of the 2026 Dutch Grand Prix, TWG Motorsports said: "TWG is not considering a sale of the Cadillac team or any other part of TWG Motorsport."
In a circumstantial move, the team last week ousted Graeme Lowdon and replaced him with new team principal Marcin Budkowski.
On replacing Lowdon, Budkowski said: "There's been a change of leadership at the head of the team, it's been a decision made by the top leadership and the owners and the shareholders of the team. I'm honoured to have been picked to lead that following phase.
"As I said and I will repeat it, I have immense respect and admiration for what's been achieved so far by Graeme for building this team from the ground up, recruiting these people and actually showing up and racing with the level of competitiveness that I think is reasonable for a new team."
The federal investigations have not brought a charge and do not implicate Bradford Allen - the intermediary company that is developing Cadillac F1's Indiana headquarters alongside Andretti Global's IndyCar facilities - in any wrongdoing, nor has Cadillac F1 team been implicated in any way.
Regarding the Walter investigation, Budkowski said, "there was absolutely no discussion about that, there's no doubt for me that there's no influence there".
"Again, the new factory, my appointment, there's key personnel that hopefully we will be able to announce soon as well."
"I think it just shows the commitment and the investment behind the project."
TWG Motorsports CEO Dan Towriss is not present at Zandvoort for the Dutch GP, instead attending the IndyCar 250 race in Washington, DC, this weekend.
