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F1: Cadillac dismisses sale rumours
TWG Global has issued a brief statement dismissing talk of the Cadillac team being sold. Speculation over the American team's future began with the news that Mark Walter, one of the founders of TWG Global, which is the majority owner of the F1 team, is under investigation by the US government and the Securities and Exchange Commission (SEC). While the investigation relates to Walter's sale of the Los Angeles Lakers NBA franchise for $12.5bn, just over a year after buying it for $10bn, there are fears that as CEO and co-chairman, he may seek to offload some of the other businesses in which he has significant holding, these include the LA Dodgers, Chelsea Football Club and the Cadillac F1...
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3h ago from Pitpass.com
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Cadillac F1 quash sale rumours amid TWG investigation
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