Cadillac has moved swiftly to quash speculation that its fledgling Formula 1 operation could be caught up in the uncertainty surrounding its majority owner, insisting there are no plans to sell the team.
The reassurance comes as TWG Global, the parent company of TWG Motorsport, faces scrutiny following the launch of a federal investigation into founder Mark Walter’s financial dealings.
While General Motors provides the Cadillac identity and technical backing, and holds a stake in the team, TWG Motorsport remains the controlling shareholder in the F1 outfit.
That ownership structure has inevitably placed the sport’s newest entrant under the spotlight, particularly after Walter made headlines with the $12.5 billion sale of the Los Angeles Lakers only a year after acquiring the NBA franchise for $10 billion.
The transaction sparked speculation that Walter could look to offload other assets, potentially including Cadillac’s new F1 operation. But the team has made clear that such a scenario is not currently on the table.
Cadillac dismisses sale speculation
Speaking at the Dutch Grand Prix, Adrian Atkinson, General Motors’ executive director of global motorsports communications, unexpectedly addressed the issue before discussing the team’s activities at Zandvoort.
"Just before we start, obviously a little bit of news around at the moment on TWG," he said. "There is a statement. This is from TWG Global.
"TWG is not considering a sale of the Cadillac team or any other part of TWG Motorsport. And just for your information, Dan Towriss is in Washington D.C. for the IndyCar race this weekend, so he is not here."
Towriss is CEO of TWG Motorsports, whose portfolio extends beyond Formula 1 to include significant involvement in other motorsport series, including IndyCar.
The statement provides a clear message from Cadillac’s ownership at a time when the team is undergoing an important period of transition.
Former team principal Graeme Lowdon has departed, with Marcin Budkowski returning to F1 to take over the role as Cadillac continues building the foundations of its new operation.
Budkowski sees commitment, not uncertainty
For Budkowski, the developments surrounding TWG have not raised concerns when he agreed to join the project. Asked whether he had sought assurances before accepting the job, the new Cadillac team principal indicated that the issue had not even entered the conversation.
"There was absolutely no discussion about that. There is no doubt for me that - there's no influence there,” he said.
“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.”
Those comments point to a team pressing ahead rather than one preparing for an ownership upheaval. With a new factory taking shape, Budkowski settling into his leadership role and further personnel announcements expected, Cadillac’s immediate focus remains firmly on establishing itself in Formula 1.
For a project still at the beginning of its journey, the message from both its ownership and new management is therefore one of continuity: despite the noise surrounding TWG Global, Cadillac insists its F1 ambitions remain firmly intact.
Read also: Cadillac F1 owner Mark Walter reportedly facing US federal probe
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