TWG Global says Cadillac F1 team and motorsport interests not for sale

TWG Global said its motorsport assets, including the Cadillac Formula One team, will not change ownership despite speculation involving billionaire chief executive Mark Walter’s sporting holdings. The statement came at the Dutch Grand Prix in Zandvoort, where TWG said it is “not considering a sale” of the Cadillac team or any other part of TWG Motorsport. TWG Motorsport, a subsidiary of Walter’s TWG Global, co-owns the Cadillac F1 team and also has teams in IndyCar and Formula E, plus entries in NASCAR and Australian Supercars. The comments followed a Financial Times report that Walter was in talks to sell his stake in Chelsea. Cadillac also replaced founding principal Graeme Lowdon with Marcin Budkowski after 11 races.