Supercars owner puts majority stake up for sale
Supercars has confirmed that primary shareholder Archer Capital has put its 65 per cent stake in the category on the market.
Photo by: Daniel Kalisz / Motorsport Images
Archer, a private equity firm, has held its stake in the sport since 2011, which makes it the majority owner alongside the owners of the 26 Racing Entitlements Contracts, required to compete.
The Sydney-based firm has now put investment bank UBS in charge of exploring the sale of the 65 per cent stake, which Supercars confirmed through a story on its official website today.
“Any sale process is entirely a matter for the shareholders,” Supercars CEO James Warburton told the official site.
“Our focus is the continued growth of a thriving business, renowned international motorsport category and tier one Australian mainstream sport; and realising our 2025 vision.”
A report in The Daily Telegraph has reported that there is a $100m price tag on the category, and that interest has already been shown by News Corp Australia (which publishes The Daily Telegraph and owns Supercars broadcast rights holder Fox Sports), former owners Sports Entertainment Limited, and TEG, which owns ticketing giant Ticketek.
The team owners could also play their role in the sale, with an option to band together and take over the Archer stake.
Archer bought its 65 per cent stake in the sport from SEL and the team owners back in 2011 for what is believed to be around $180m.
Its time at the helm of the sport has seen the introduction of the Car of the Future regulations, and a new media deal that saw broadcast rights go to pay TV provider Fox Sports.
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