Cadillac Formula 1 team to follow Chelsea blueprint, say owners
The Cadillac Formula 1 team will “apply the same transformative growth mindset” seen at sister outfit Chelsea FC as they gear up for their historic entry to the grid next year.
Cadillac F1 are majority owned by TWG Global, the investment vehicle of Chelsea part-owner Mark Walter, a long-time business partner of the club’s chairman Todd Boehly.
Announcing the creation of a new racing division, TWG Motorsports, it has pledged to adopt the same ethos as in its other sporting projects, which also include the LA Dodgers and LA Lakers.
“TWG Global today announces the launch of TWG Motorsports, a new division created to bring together a portfolio of leading motorsports organizations to drive competitive excellence, ingenuity and commercial innovation across the globe, with the aim of challenging at the very top of the sport,” it said on Tuesday.
“Established in late 2024 by TWG Global co-chairs Mark Walter and Thomas Tull, TWG Motorsports is focused on setting a new standard for racing. Their commitment to driving innovation by utilizing next-generation technologies and leveraging synergies continues a history of commitment to sports as evidenced by a TWG Global sports portfolio that includes the Los Angeles Dodgers, Chelsea Football Club, Professional Women’s Hockey League and stakes in the Los Angeles Lakers and other ventures. TWG Motorsports will apply the same transformative growth mindset to racing.”
Walter, Boehly and Clearlake Capital’s approach at Chelsea has had mixed results since they bought the Premier League club from Roman Abramovich for £2.5bn in 2022.
The US investors spent more than £1bn on new players and overhauled off-field operations but have finished 12th and sixth in the two seasons since and struggled to attract a main sponsor.
Mark Walter’s other sports projects
Walter has had more success in baseball with the LA Dodgers, winning two World Series since his takeover in 2012, although in basketball the LA Lakers have not won a title since he and Boehly bought stakes in 2021.
The TWG Motorsports stable includes not only Cadillac F1 but also Andretti Global, which competes in IndyCar and Formula E, Nascar outfight Spire, Wayne Taylor Racing in GTP and Australia-based Supercars team Walkinshaw Andretti United.
Andretti Global boss Dan Towriss, who runs TWG-owned insurance company Group 1001, has been named CEO of TWG Motorsport.
“Dan has been instrumental in forming the landmark Cadillac Formula 1 team in partnership with General Motors and acquiring for TWG Global a broad racing portfolio that includes Andretti Global, Wayne Taylor Racing, and Spire Motorsports,” Walter said.
Cadillac will become the 11th team on the F1 grid in 2026, initially using Ferrari power units and gearboxes. TWG and partner General Motors last month announced a new company to make them a full service team by the end of the decade.
Towriss said: “With a combination of operational excellence, technology and innovation, TWG Motorsports has the opportunity to drive true transformation in racing, set new standards for the industry and build a legacy of success across the globe.”