TWG denies rumours of Cadillac F1 team sale
TWG has denied speculation that Cadillac’s Formula 1 team could be sold. The rumours followed scrutiny of TWG CEO Mark Walter by authorities in the United States.
TWG, the company operating General Motors’ Formula 1 entry under the Cadillac name, has denied reports suggesting the team could be put up for sale.
The speculation emerged after TWG CEO Mark Walter came under scrutiny from authorities in the United States. Walter, described as a key figure for the Cadillac project, is not widely known in Formula 1 but is central to the team’s operation.
Recent attention around Walter also followed the sale of his stake in an NBA team in Los Angeles, which contributed to the rumours. TWG has rejected the idea that Cadillac’s F1 team is being sold.
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