TWG CEO Mark Walter is under investigation by the U.S. Department of Justice and Securities and Exchange Commission for an alleged fraud scheme involving $16-20 billion in undisclosed "self-loans" from his insurance companies to related businesses. The probe has sparked rumors about a potential sale of the Cadillac F1 team, which TWG operates on behalf of General Motors.

Despite the speculation, Cadillac F1 team CEO Dan Towriss publicly stated on Thursday at the Dutch Grand Prix that the team is not for sale. Towriss was absent from Zandvoort because he was attending to Andretti Autosport duties at the IndyCar race in Washington, D.C., where Donald Trump was present.

TWG acquired Andretti in 2024 after purchasing the stake from Michael Andretti, enabling Cadillac's approval as Formula 1's 11th team for the 2026 season. The investigation centers on whether Walter used an opaque network of limited liability companies to circumvent regulatory controls and legal limits governing inter-company lending.

The team recently confirmed Marcin Budkowski as its new team principal, replacing former boss Lowdon in what was described as a non-mutual decision.