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Cadillac Formula 1 is not being considered for sale, according to TWG Global, as the group faces scrutiny linked to a US federal investigation into billionaire Mark Walter.
Four intermediary companies within Walter’s business empire are being investigated over alleged undisclosed loans between companies under his control. The investigations have not resulted in a charge, and the Cadillac F1 team has not been implicated in any wrongdoing.
Speculation over Walter’s wider sporting portfolio intensified after he instigated the sale of his stake in the Los Angeles Lakers only 14 months after acquiring it. His interests also include Chelsea Football Club, the Los Angeles Dodgers and the motorsport operations held under the TWG Motorsports umbrella.
Those motorsport assets include Cadillac F1, alongside the Andretti Global IndyCar and Formula E teams. TWG Motorsports moved to address the uncertainty before the 2026 Dutch Grand Prix, stating: “TWG is not considering a sale of the Cadillac team or any other part of TWG Motorsport.”
The statement comes as the Cadillac operation begins a new phase under Marcin Budkowski. The team last week removed Graeme Lowdon as team principal and appointed Budkowski as his replacement, adding a further layer of change around the fledgling F1 project. The leadership switch was also identified as one of the key storylines surrounding the return to Zandvoort in Formula 1’s 2026 Dutch Grand Prix preview.
Asked about a question that appeared to refer to the investigation into Walter’s properties, Budkowski rejected any suggestion that his appointment was controversial.
“Separate two topics, I don’t think me joining Cadillac is controversial in any way: I’m not coming from the FIA, I’m not coming even from another team, so I don’t think there’s any controversy,” he said.
Budkowski described the leadership change as a decision taken by the team’s senior leadership, owners and shareholders. He added that he was honoured to have been chosen to lead the next phase, while paying tribute to Lowdon’s work in building the team, recruiting its personnel and bringing it to the grid with what he called a reasonable level of competitiveness for a new entrant.
The investigation also does not implicate Bradford Allen, the intermediary company developing Cadillac F1’s Indiana headquarters alongside Andretti Global’s IndyCar facilities. TWG Motorsports CEO Dan Towriss is absent from Zandvoort this weekend, instead attending the IndyCar 250 race in Washington, DC.
He’s a software engineer with a deep passion for Formula 1 and motorsport. He co-founded Formula Live Pulse to make live telemetry and race insights accessible, visual, and easy to follow.