TWG Global has firmly denied any intention to sell its motorsport assets, including the Cadillac Formula 1 team, amid swirling speculation and a US federal investigation. The statement aims to quell rumors about potential divestment by billionaire CEO Mark Walter.
Walter recently sold the NBA's Los Angeles Lakers and has reportedly been seeking to offload his stake in English Premier League club Chelsea. These moves fueled speculation that TWG Global might also divest its racing properties, especially with a federal probe targeting intermediary companies within Walter's business empire.
In an official statement, TWG Global asserted, "TWG is not considering a sale of the Cadillac team or any other part of TWG Motorsport." This clarification underscores the company's commitment to its racing ventures.
TWG's motorsport portfolio includes the Cadillac F1 team, which joined the world championship this season, along with Andretti Global in IndyCar and Formula E. The company also holds stakes in NASCAR's Spire Motorsports and IMSA's Wayne Taylor Racing.
In Australia, TWG acquired ownership of the Supercars team formerly known as Walkinshaw Andretti United last February. The team has since been rebranded as Walkinshaw TWG following the exit of Zak Brown's United Autosports.
The Supercars squad clinched the drivers' title last year with Chaz Mostert and is now gearing up for the 2026 season with a switch from Ford to Toyota. This move signals TWG's long-term commitment to Australian touring car racing.
With this official denial, TWG Global aims to reassure stakeholders that the ongoing investigation will not impact their strategic direction in motorsport.
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