Cadillac F1 owners come out fighting with stunning new statement

TWG Global, the owner of the Cadillac F1 team, has publicly defended itself against ongoing speculation and a federal investigation concerning its founder, Mark Walter. The investigation is linked to Walter's insurance companies and follows his recent sale of the Los Angeles Lakers for a record price. TWG has issued a statement asserting that there has been no fraud and that they are committed to resolving any regulatory inquiries while maintaining the integrity of their business operations.

In addition to addressing the investigation, TWG emphasized that it is not considering selling its sports assets, including the Cadillac F1 team, at discounted prices. The company has replaced its team principal and continues to focus on its operations in Formula 1, despite not having scored any points in their debut season. TWG's statement aims to clarify misconceptions and reinforce their commitment to stakeholders.