Supercars sale could be confirmed next week

A formal announcement on the completed sale of Supercars is likely to be made next week.

A changing of hands for the Aussie series has theoretically already been sealed, with TLA Worldwide and Australian Racing Group combining to purchase the 65 per cent stake owned by Archer Capital.

The joint venture, operating as the newly-formed Racing Australia Consolidated Enterprises (RACE) company, will also take over the 35 per cent owned by the teams to assume total control of the category.

RACE beat another consortium led by Peter Adderton, and including the likes of Alan Gow, Mick Doohan, Pete Smith and Paul Morris, to the right to purchase Supercars.

Motorsport.com understands the long-awaited confirmation of the sale to RACE could come as soon as next week.

A deep dive on the sale by Motorsport.com yesterday exposed a number of key details around the impending takeover.

Among those details was that an unpublicised private offering has raised around $25 million through financial advisory firm Henslow.

It was also revealed that, in exchange for their stake in the business, teams will have a guaranteed annual income of at least $650,000 per entry for the next five years.

Teams will also receive a one-off grant of $450,000 per car to help pay for the transition to the new Gen3 rules, which were recently delayed until the beginning of 2023.

Archer Capital has been the majority owner of Supercars since 2011, when it forked out $190 million for the controlling stake.

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