Cadillac F1’s parent company TWG has moved to shut down speculation over a potential sale of the Formula 1 outfit amid scrutiny surrounding CEO Mark Walter in the United States.
Walter, a billionaire and the driving force behind TWG, is currently under investigation by American authorities, triggering widespread rumours about the future of his sporting assets.
Reports in the US suggest Walter has been considering selling stakes in several major sports ventures to raise liquidity as he deals with the ongoing federal investigation against him.
He recently sold his stake in NBA franchise the Los Angeles Lakers just one year after acquiring it, raising further questions about his broader sporting portfolio.
According to those reports, assets potentially on the table include Premier League club Chelsea, MLB’s Los Angeles Dodgers, Andretti Global, and the Cadillac F1 team itself.
However, on Thursday at the Dutch Grand Prix, Cadillac moved decisively to quash the rumours by publicly stating the team was not up for sale.
Cadillac F1 team CEO Dan Towriss was absent from Zandvoort this weekend, attending the IndyCar race in Washington D.C. alongside Andretti Autosport at an event featuring U.S. President Donald Trump.
The Dutch GP weekend also marks the first race under new team principal Marcin Budkowski, who recently replaced Mattia Lowdon at the helm of the operation.
TWG originally acquired Andretti in 2024 after purchasing the stake from Michael Andretti, a pivotal move that helped secure approval from the FIA, F1, and rival teams for Cadillac’s entry as the eleventh team on the 2026 grid.
At the centre of the investigation, the U.S. Department of Justice and the Securities and Exchange Commission are examining Walter for an alleged fraud and cover-up scheme involving fund management at his insurance companies Delaware Life, Clear Spring, and EquiTrust.
The probe is focused on a network of undisclosed self-loans, estimated to be worth between $16 billion and $20 billion, allegedly channelled from those insurance companies into businesses linked to Walter himself.
Investigators believe the money moved through intermediary firms and an opaque structure of limited liability companies in order to evade regulatory controls and legal limits within the sector.
Under U.S. law, companies owned by the same individual may lend money to one another, but only if such transactions are declared to regulators to protect solvency for customers, a requirement allegedly not followed in this case.