Cadillac Team Sale Rumors Dismissed by TWG Global

TWG Global has officially denied rumors about the sale of the Cadillac F1 team. This statement comes as speculation arose following news that Mark Walter, a founder of TWG Global and majority owner of the team, is under investigation by the US government and the Securities and Exchange Commission.

The investigation pertains to Walter's recent sale of the Los Angeles Lakers NBA franchise, raising concerns that he might consider selling other significant holdings, including the Cadillac team. However, Adrian Atkinson, General Motors' executive director of global motorsports communications, clarified that there are no plans to sell the Cadillac team or any other part of TWG Motorsport.

New team principal Marcin Budkowski also addressed the rumors, stating there had been no discussions regarding a sale and emphasizing the commitment to the project, including upcoming announcements about key personnel.