TWG Global says Cadillac F1 team and motorsport interests not for sale
TWG Global has clarified that its motorsport properties, including the Cadillac Formula One team, are not up for sale despite rumors. The Financial Times earlier reported that billionaire chief executive Mark Walter was considering selling his stake in Chelsea and was in talks to sell his Cadillac F1 team. However, TWG Motorsport, a subsidiary of Walter's TWG Global and co-owner of the Cadillac team, stated in a statement that they have no intention to change ownership.
TWG Motorsport also owns Andretti Global teams in IndyCar and Formula E, as well as entries in NASCAR and Australian Supercars. Walter's other sports holdings include MLB's Los Angeles Dodgers and the WNBA's Los Angeles Sparks. The Cadillac team recently replaced its principal, Graeme Lowdon, with Marcin Budkowski, who was asked about the future of the team and said there had been no such discussions.
Despite the change in leadership, Mexican driver Sergio Perez praised Lowdon's contribution to Cadillac's progress.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
