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The Cadillac Formula 1 team is not for sale, according to its owner, TWG Global, amidst a federal investigation in the US targeting billionaire Mark Walter, who controls the company.
Four intermediary companies within Walter's business empire are currently under investigation in the United States over alleged undeclared loans between his own firms.
Walter recently made headlines after initiating the sale of his stake in the Los Angeles Lakers basketball team just 14 months after acquiring it. This move fueled speculation about the future of other sports organizations in which he holds a stake, including Chelsea Football Club, the Los Angeles Dodgers baseball team, and the motorsport teams under his TWG Motorsports investment umbrella.
These teams include the Cadillac Formula 1 outfit, as well as Andretti's teams in IndyCar and Formula E.
In a statement released ahead of the 2026 Dutch Grand Prix, TWG Motorsports declared: "TWG is not considering the sale of the Cadillac team or any other part of TWG Motorsports."
Meanwhile, last week the team removed Graham Loudon, replacing him with new team principal Marcin Budkowski.
Responding to a question that seemed to allude to the ongoing investigation into Walter's holdings, Budkowski stated: "Let's separate the two topics. I don't think my joining Cadillac is controversial in any way: I'm not coming from the FIA, I'm not even coming from another team, so I don't think there's any controversy."
"There was a change of leadership at the head of the team; this was a decision made by the senior management, owners, and shareholders of the team. I am honored to have been chosen to lead the next phase."
"As I said and will repeat, I have immense respect and admiration for what Graham has achieved so far in building this team from scratch, recruiting these people, and actually competing at a level of competitiveness that I believe is reasonable for a new team."
TWG Motorsports CEO Dan Tauris was not present at Zandvoort for the Dutch Grand Prix, as he is attending the IndyCar race in Washington this weekend.
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