Cadillac F1 Denies Sale Rumors Amid Fbi Investigation Into Owner

With F1's summer break over, the action is back this weekend in Zandvoort, but the real drama isn't happening on the track.

Federal authorities in the United States have launched an inquiry into billionaire Mark Walter's broader financial network, leading to speculation the Cadillac F1 team might be in trouble.

TWG Global-the other half of the Cadillac F1 team joint venture with General Motors-has issued a statement ahead of the Dutch Grand Prix to combat rumors that it might be forced to sell off its motorsports assets. "TWG is not considering a sale of the Cadillac team or any other part of TWG Motorsport," Cadillac F1 said in a statement.

Walter is the chairman and CEO of TWG Global. The company's motorsport portfolio includes Cadillac F1 as well as Andretti Global's IndyCar and Formula E teams, IMSA's Wayne Taylor Racing and NASCAR's Spire Motorsports.

Speculation that TWG's share in Cadillac F1 could be up for sale ignited after Walter abruptly divested his stake in the Los Angeles Lakers just 14 months after buying into the NBA franchise. That caused ripples across the internet, raising questions about the stability of Chelsea FC, the Los Angeles Dodgers, and TWG Motorsports. ESPN reports there is an appetite from Walter to sell his 12.83% stake in Chelsea.

U.S. prosecutors and the Securities and Exchange Commission are currently looking at four intermediary entities within Walter's vast corporate portfolio over undisclosed internal loans. The focus centers on complex private-credit transactions between Walter-linked firms and affiliated life insurance companies.

The two insurance companies, Delaware Life and Clear Spring Life and Annuity, are subsidiaries of Group 1001, which was founded by TWG Motorsports CEO Dan Towriss. Group 1001 has been a TWG Global subsidiary since 2024.

Towriss skipped the Dutch GP weekend to attend the Freedom 250 IndyCar race in Washington, D.C.

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