The future of Cadillac F1's ownership has come into question after one of its owners reportedly secured a major sale.
Mark Walter, CEO and co-chairman of TWG Global, which owns a majority stake in the Cadillac F1 team, recently sold the Los Angeles Lakers for $12.5 billion just a year and a half after buying the legendary basketball franchise.
Walter has been the subject of a massive investigation by the US government and the Securities and Exchange Commission regarding alleged undisclosed loans between multiple of his companies.
Naturally, after selling the Lakers so quickly after buying them, with an investigation pending, questions arose about his need to raise money and whether it may be affecting his ability to own sports franchises.
Cadillac Team Logo | Photo Credit: Cadillac F1 Team
#angeles
Mark Walter, CEO and co-chairman of TWG Global, which owns a majority stake in the Cadillac F1 team, recently sold the Los Angeles Lakers for $12.5 billion just a year and a half after buying the legendary basketball franchise.
Walter has been the subject of a massive investigation by the US government and the Securities and Exchange Commission regarding alleged undisclosed loans between multiple of his companies.
Naturally, after selling the Lakers so quickly after buying them, with an investigation pending, questions arose about his need to raise money and whether it may be affecting his ability to own sports franchises.
Cadillac Team Logo | Photo Credit: Cadillac F1 Team
#angeles
3 months ago
