TWG Motorsports

Last updated

TWG Motorsports
Company type Subsidiary
Industry Motorsport
FoundedNovember 2024;3 months ago (November 2024)
Founder
Headquarters227 West Monroe Suite 4800,
Chicago, Illinois 60606
Key people
Dan Towriss (CEO)
Jill Gregory (COO)
Doug Duchardt (CPO)
Mark Walter (Co-Chairman)
Thomas Tull (Co-Chairman)
Products Motorsport
Parent TWG Global
Subsidiaries Cadillac Formula 1 Team (in partnership with General Motors)
Andretti Global
Spire Motorsports
Walkinshaw Andretti United
Wayne Taylor Racing
Website twgmotorsports.com

TWG Motorsports is a motorsport division of American holding company TWG Global Holdings, LLC. The division's sole responsibility is to operate TWG Global's motorsport teams. The company was established in late 2024 and is based in Chicago, Illinois, United States. [1] [2]

Contents

They own and operate five motorsports organizations in multiple racing disciplines which include, Cadillac Formula 1 Team, Andretti Global, Spire Motorsports, Walkinshaw Andretti United, and Wayne Taylor Racing.

History

On February 26, 2025, a press release from TWG Global Holdings, LLC announced the official launch of a new motorsports division within the company called TWG Motorsports. [1] The new division was originally founded in late 2024 by TWG Global co-chairs Mark Walter and Thomas Tull. [1] [3] The company also announced on the same day that Group 1001 Insurance CEO Dan Towriss would be serving as the chief executive officer of TWG Motorsports, and that veteran motorsports executive Jill Gregory would serve as the chief operating officer of the company. [4] [5] [6] Doug Duchardt, who has two decades of motorsports experience with Hendrick Motorsports, Chip Ganassi Racing and Spire Motorsports, serves as the company's chief performance officer (CPO). [6] [7]

TWG Motorsports' portfolio comprises of five motorsports organizations: Cadillac Formula 1 Team, Andretti Global, Spire Motorsports, Walkinshaw Andretti United, and Wayne Taylor Racing. [8] [4] [9] [10]

Formula One

TWG Motorsports has a partnership with General Motors (GM) and subsidiary brand Cadillac to field the Cadillac Formula 1 Team. [11] The team will enter the 2026 Formula One World Championship as a constructor in 2026 under the Cadillac brand, and GM will enter as an engine supplier at a later date. The team was originally entered as Andretti Cadillac under the leadership of Andretti Global, however, they were initially rejected by the Formula One Group despite having approval from the FIA. [12] [13] In November 2024, TWG Global co-chair and Guggenheim Partners CEO Mark Walter announced that he had purchased Andretti Global through his holding company TWG Global. [6] [14] The F1 team was also subsequently accepted by the Formula One Group to enter and compete in the 2026 Formula One World Championship. [15] Dan Towriss was announced to be the CEO of the new team [8] , Micheal Andretti remained an advisor [6] , and Mario Andretti would serve on the board of directors. [14]

References

  1. 1 2 3 Motorsports, T. W. G. "TWG Global launches TWG Motorsports with brands across F1, INDYCAR, NASCAR and IMSA". www.prnewswire.com. Retrieved 27 February 2025.
  2. ↑ "SC 13G/A". www.sec.gov. Retrieved 27 February 2025.
  3. ↑ "TWG Global Launches Motorsports Dynasty With Powerhouse Lineup That Includes Cadillac F1 Team". Motor Sports OnSI. 25 February 2025. Retrieved 27 February 2025.
  4. 1 2 gabbyhamill (26 February 2025). "TWG Global launches TWG Motorsports with brands across F1, INDYCAR, NASCAR, Formula E and IMSA". Andretti Global. Retrieved 27 February 2025.
  5. ↑ Richey, Lynzy (26 February 2025). "TWG Motorsports Announces Jill Gregory as Chief Operating Officer". Andretti Global. Retrieved 27 February 2025.
  6. 1 2 3 4 Brown, Nathan. "Andretti Global parent company unveils longtime NASCAR executives as new leaders". The Indianapolis Star. Retrieved 27 February 2025.
  7. ↑ "New motorsports leadership executives introduced as Andretti Global moves on without Andretti". AP News. 4 December 2024. Retrieved 27 February 2025.
  8. 1 2 "Cadillac F1 to be managed by global group TWG Motorsports. Dan Towriss named CEO of racing portfolio". AP News. 25 February 2025. Retrieved 27 February 2025.
  9. ↑ "Andretti Global Placed under TWG Motorsports Umbrella". IndyCar.com. Retrieved 27 February 2025.
  10. ↑ O’Connell, R. J. (25 February 2025). "TWG Motorsports Officially Launches | dailysportscar.com". www.dailysportscar.com. Retrieved 27 February 2025.
  11. ↑ "Statement on General Motors application to join FIA Formula One World Championship in 2026 | Formula 1®". Formula 1® - The Official F1® Website. Retrieved 27 February 2025.
  12. ↑ Wolkin, Joseph. "Andretti Global Clears FIA Approval To Create A Formula 1 Team". Forbes. Retrieved 27 February 2025.
  13. ↑ Smith, Luke. "General Motors enters the grid: Why F1 changed its tune after rejecting Andretti". The New York Times. ISSN   0362-4331 . Retrieved 27 February 2025.
  14. 1 2 "GM, Cadillac agree deal for new 2026 F1 entry - Andretti absent". The Race. 25 November 2024. Retrieved 27 February 2025.
  15. ↑ "General Motors launches Cadillac Formula 1 Team and power unit". news.gm.com. Retrieved 27 February 2025.
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