TWG Group exploring sale of Cadillac F1 team stake

The TWG Group that owns Cadillac is considering a sale of the Formula 1 team and values it at $3 billion, according to a report by Sportico.

Cadillac is the newest team on the grid, having entered F1 at the start of this season, and was granted its entry amid backing from General Motors after the original Andretti-branded attempt was rebuffed by the sport. The team is controlled by Mark Walter through TWG Motorsports, the racing arm of TWG Global that also includes IndyCar, NASCAR, IMSA and Australian Supercars teams.

Amid ongoing federal investigations into TWG Group owner Walter’s business dealings, a number of his sports assets have been sold off, including the Los Angeles Lakers and a stake in English Premier League side Chelsea.

Sportico now claims the F1 team is also up for sale, with its report stating there are seven interested parties. F1 team valuations have risen sharply over the past six years, and the report says Cadillac is valued at $3b by Walter.

The ownership structure of the F1 team has not been disclosed, but TWG Motorsport is understood to be the majority shareholder; the size of any General Motors stake – despite supplying investment and Cadillac branding – remains unclear.

TWG Motorsports did not respond to a request for comment Monday evening.

In August, TWG Global stated “TWG is not considering a sale of the Cadillac team or any other part of TWG Motorsport,” in response to previous speculation the team could be sold.

Cadillac’s first season in F1 has been a struggle, with the team suffering multiple retirements and failing to reach Q2 in a qualifying session so far. After finishing with both cars in three of the first four races of the season, including a best result of 13th in China, the team has only seen two cars finish in the 15 races since.

However, investment has been strong in facilities in Silverstone, Indianapolis and Charlotte, while Sergio Perez was recently signed to a long-term contact that runs until 2029. Sportico’s report estimates $1b has been invested to establish the team on top of a near-$450 million anti-dilution fee being paid to join F1.