Cadillac £121 million financial loss comes with huge F1 caveat

Cadillac lost £121 million in its final year before formally entering Formula 1 in 2026, new documents show. 

The team, backed by General Motors and TWG Motorsports in America, is run through a British subsidiary company called 'TWG Cadillac Formula 1 Team Limited', and as such, is subject to annual financial submissions to Companies House, along with every F1 team located in the UK. 

RacingNews365 has already examined Williams, Aston Martin, and Alpine's accounts (available below), with Red Bull and McLaren due imminently. Mercedes published in June. 

The submission for TWG Cadillac Formula 1 Team Limited shows that the team lost £121.9 million GBP after tax as it prepared for its debut campaign in 2026, having received formal acceptance of its place on the 2026 grid in March 2025.

This figure must be significantly caveated, however, by the fact that Cadillac was unable to generate sufficient turnover, including its commercial sponsorship arrangements, but most importantly, prize money from F1 for its performance and result in the constructors' championship.

As Cadillac did not compete in the 2025 season, its 2025 accounts are unique amongst those examined by RacingNews365, as the two major revenue streams F1 teams rely upon were not available to the squad. 

It will only be in the 2026 accounts, published on or around September 30th, 2027, that Cadillac's true turnover and bottom-line profit or loss will be known as it will have had a season of full commercial sponsorship as a fully fledged F1 team and earned prize money.

By the end of 2025, the team had grown in headcount to 307 people, a rise from 88 at the end of December 2024.

In the submission, the sole listed director of the company, Dan Towriss, confirmed that, if required, TWG Cadillac Formula 1 Team LLC, the American side of the wider TWG Motorsports umbrella, and thus not subject to Companies House reporting, would "provide funding" if required to meet any outstanding liabilities.

Towriss, as part of his going concern risk assessment, does not anticipate that this will be required, with the team set to enjoy "binding financial commitments from its investors", which can now kick in fully as the team is actually racing and competing in grands prix.

Below, you can check out the other examinations of F1 team finances RacingNews365 has conducted during the accounting and reporting period, including for F1 itself.