AUGUST 21, 2026

Cadillac denies sale rumours, drivers back shake-up

Cadillac has moved quickly to deny suggestions its Formula 1 project could be sold, while Sergio Perez and Valtteri Bottas both indicated at Zandvoort that significant internal change was needed.

Speculation followed mounting scrutiny around TWG Global founder Mark Walter, whose wider business empire is under investigation by US federal prosecutors.

A spokesman opened Thursday's media session at Zandvoort by reading a prepared TWG statement denying that Cadillac or any other part of TWG Motorsport is for sale.

TWG is not considering selling the Cadillac team or any other part of TWG Motorsport, he said.

Brand new team principal Marcin Budkowski was equally emphatic.

I have no doubt that this situation will not affect us in any way, he insisted.

The new base, my appointment, the key staff, whom I hope we will soon be able to introduce - all this shows how serious the commitment and investment in the project is.

Budkowski has only just replaced Graeme Lowdon in the surprise summer break management shake-up, and both Cadillac drivers suggested the decision reflected deeper concerns.

I think it was time to change, Perez said.

I think it shows that, although it's only our first year, Cadillac is really willing to move forward this team as quickly as possible. And we hope that with the new leadership that can come soon.

Bottas was even more direct.

I think something needed to change within the team, said the Finn.

We're simply hampered by a number of issues that have long needed to be addressed. But I don't think I expected such significant changes.

He nevertheless praised Lowdon for getting the new operation onto the grid.

Of course, it's a shame that Graeme had to go, because he's my friend first and foremost, said Bottas.

I also think he did a great job organising the team and preparing it for its first race, and for that, I take my hat off to him.

Perez, meanwhile, also pushed back against speculation about his own future despite recent links with rival teams.

From my side it was already clear when I came here, he said. It was a two-year deal.

But obviously I want this. I see this as my project and I want to be part of Cadillac for the long term, because when you start something from scratch it requires a lot of time.

Budkowski's immediate task is to drag Cadillac away from the foot of the standings, while longer-term attention is already turning towards its eventual works engine program.

For the time being, we are satisfied with the relationship with Ferrari and the engine is competitive, he said.

I think the collaboration is going well. So that is where we stand for now: we are happy to have a partner like Ferrari.

(GMM)