Who owns the Cadillac F1 racing team? Inside the TWG Global group backed by General Motors

Who owns the Cadillac F1 racing team? Inside the TWG Global group backed by General Motors originally appeared on The Sporting News.
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Formula One added an 11th team for the 2026 season, and it’s one of the most well-known luxury car brands in the world.

Cadillac, the luxury vehicle division of manufacturer General Motors, is now a part of the F1 world. Eventually, the brand also has plans to become a power-unit manufacturer by 2029.

As Cadillac made its entry into F1, the first new, independent constructor to join the grid since 2016, its team ownership is a quickly growing group backed by one of the wealthiest sports owners in various other leagues.

Here’s what to know about the F1 Cadillac team’s ownership.

MORE:Full 2026 F1 standings, driver and constructor points

Who owns the Cadillac F1 racing team?

Cadillac’s F1 racing team is owned by TWG Global through a partnership with General Motors.

In 2025, TWG Global launched  TWG Motorsports, the division of the company responsible for its motorsports portfolio — which also includes being the majority owner of Andretti Global, the team that competes in IndyCar, Indy NXT and Formula E. Per the AP, TWG Motorsports is also the majority owner of the NASCAR team Spire Motorsports, the two-car IMSA sports car GTP program fielded by Wayne Taylor Racing, and Walkinshaw Andretti United, which competes in Australia’s Supercars Championship.

Who is TWG Global?

TWG Global is a multinational conglomerate holding company, meaning it is a business that holds controlling interest in other companies over multiple countries and industries, rather than producing anything itself.

TWG Global has headquarters in Chicago and New York City, founded in 2024 as an investment vehicle by CEO Mark Walter. Thomas Tull is co-chairman of the company. Industries that TWG Global is invested in include financial services, insurance, artificial intelligence/technology, sports and entertainment, energy and merchant banking.

In 2024, TWG Global announced it had acquired full ownership of the auto racing team Andretti Global — which included the plans for an Andretti Cadillac Formula 1 team. Later on, the company announced that it had been approved by the Formula One Group to compete in 2026 under a new restructured team, known more simply as the Cadillac team.

In 2025, TWG Global then created a specific division of its company to handle its motorsports interests: TWG Motorsports. Dan Towriss was named CEO of the subdivision.

Who is Mark Walter?

Walter is the CEO of two companies: Guggenheim Partners, a privately held global financial services firm with over $300 billion in assets under management, and TWG Global.

The 66-year-old, from Cedar Rapids, Iowa, is primarily known for his sports ownership — TWG Global has controlling interest in MLB’s Los Angeles Dodgers, the Premier League club Chelsea, the Professional Women’s Hockey League, the NBA’s Los Angeles Lakers and the WNBA’s Los Angeles Sparks.

How did Mark Walter make his money?

With a net worth over $7 billion, per Forbes, Walter is one of the wealthiest people in the world.

After attending Creighton University and the Northwestern University School of Law, Walter primarily made his money from co-founding Guggenheim Partners in 1999. He grew the company into a financial powerhouse, serving as CEO and helping it to manage over $300 billion in assets.

Walter founded TWG Global in 2024, becoming CEO, co-chairman and 21% owner. 

When did Cadillac join F1?

Cadillac’s team officially joined F1 for the 2026 season. They became the first debutant Formula One venture since Haas in 2016.

Cadillac received formal approval to join F1 in March 2025.

How much is Cadillac paying to join F1?

To have Cadillac join Formula 1, General Motors paid an expansion fee of $450 million.

Per Autoweek, that total was distributed evenly between the other 10 Formula 1 teams at $45 million each “as part of the compensation for future prize money and revenue being split 11 rather than 10 ways.”

What drivers race for Cadillac F1?

In Cadillac’s debut season in F1, its two drivers are Sergio Perez (No. 11) and Valtteri Bottas (No. 77).

Perez, 36, was previously the runner-up in the Formula One World Drivers’ Championship in 2023 with Red Bull. He has won six Grand Prix over 15 seasons. Born in Guadalajara, Mexico, Perez has 292 starts in his F1 career with 1,638 points and 39 podiums.

Bottas, meanwhile, is a 36-year-old driver from Finland who has previously finished as the runner-up in the World Drivers’ Championship in both 2019 and 2020, when he was driving with Mercedes. He has won 10 Grand Prix over 13 seasons along with 1,797 total points and 67 podiums over 257 starts.