Posted on October 29, 2021 Tags: Supercars Sale
AS THE SUPERCARS CHAMPIONSHIP resumes this weekend following its hiatus, we have confirmation Archer Capital has sold its majority stake to Racing Australia Consolidated Enterprises Ltd (RACE).
It is understood RACE will also acquire the 35 percent collectively owned by Supercars’ teams, by the end of the year when the shareholding transfer is expected to be complete.
The Repco Supercars Championship gets back on track today, Friday, at Sydney Motorsport Park for the first of four successive events.
RACE is led by Melbourne entrepreneur and TGI Sport chairman Barclay Nettlefold, along with motor racing promoter the Australian Racing Group and independent advisory firm Henslow.
The new ownership consortium has operational experience and brings significant marketing clout to Supercars.
The move is also seen as a major step towards aligning the major circuit racing categories in Australia.
“We set out to find a new majority shareholder that would be able to build on the work that Archer and the management team have done over the past five years. “The expertise that RACE has in sport, media, marketing and digital will enable just that.”Peter Wiggs, Chairman of Supercars and Archer Capital.
“Supercars, with the support of Archer, has done an amazing job navigating the past two years.
“The RACE Board and I look forward to combining our collective resources, heralding an exciting new era in the growth of a sport that all Australians love.”Barclay Nettlefold, Melbourne entrepreneur.
The transfer was first mooted way back in 2017 when Supercars and Archer Capital chairman Peter Wiggs confirmed longterm plans to divest itself of the business.
Wiggs has confirmed the handover will be completed by year’s close.
The Australian Racing Group is well entrenched in local motorsport, with responsibility since 2018 for TCR Australia, S5000, GT World Challenge Australia, Touring Car Masters, National Trans Am, the Super3 Series and includes the Bathurst 6 Hour and Bathurst under its wings.
Porsche Paynter Dixon Carrera Cup Australia driver Tim Miles – of Miles Advisory Partners – was tasked with the sale of Supercars, just 10 years after it helped negotiate Archer Capital to buy it.
TGI Sport was established in 1997 and is an infrastructure, technology and media rights business.
It has global reach having worked with international sporting leagues and organisations including FIFA, UEFA, NBA, NHL, MotoGP as well as domestic organisations Rugby Australia, Football Federation Australia, and Cricket Australia.
Nettlefold, also CEO and managing director of affiliated company QMS Media – a position he has held since 2015 – is mooted to replace Wiggs as Supercars’ chairman.
BRITAIN’S JAMIE CHADWICK claimed the all-female racing title after two stunning victories last weekend at the Circuit of the Americas in Austin, Texas.
The Racing X driver started the weekend level on points with fellow Brit Alice Powell, but two wins in two days gave Jamie back-to-back W Series titles as the all-female competition made its US debut.
Along with that $666k prize money comes an invaluable 15 points towards an FIA superlicence – a passport towards participation at a higher level – with a minimum 40 over three seasons required to race in Formula One.
They were the first W Series races outside Europe and 23-year-old Jamie looked at home in Texas, winning the opener in hot and sunny weather and the second in cooler and wetter conditions.
While Jamie started on pole on Sunday, and led from start to finish, Alice Powell languished in eighth on the grid and ended in sixth.
Abbi Pulling, an 18-year-old reserve driver – and another Brit – was an impressive runner-up for Puma in Austin while Emma Kimiläinen, of the Ecurie team, was third. The Finn also finished third overall in the series.
W Series drivers use identical F3 cars. The move to F1 weekends this year was a major step up, after Covid put paid to the 2020 competition.
Aussie Caitlin Wood competed in the W Series in Austin – finishing13th – after Russia’s Irina Sidorkova was denied entry to the US over an expired visa.
But today dawned brightly with the news the W Series’ two youngest fulltime drivers – 18-year-old Irina and Spain’s Nerea Martí (19) – will take part in a full testing day with the FIA Formula 3 Championship at Circuit de Nevers Magny-Cours, France, on November 9 2021.
“W Series exists to create a pathway for female racing drivers as they progress into the upper tiers of motorsport.
“Today’s announcement is proof that we are succeeding in that mission.
“We launched the W Series Academy this season to provide young drivers with the extra coaching and mentoring they need to fulfil their potential.
“Both Irina and Nerea have already repaid that faith by putting in some eye-catching performances throughout the year and impressing all of us with their professionalism on and off the track.
“The F3 test is the natural next step for them both.”Catherine Bond Muir, Chief Executive Officer, W Series.
Let us hope Catherine and the powers that be can find sufficient clout in 2022 to get some well-deserved international TV coverage!
Italians Maria Teresa de Filippis and Maria Grazia ‘Lella’ Lombardi are the only two women to have ever started F1 Grand Prix races – Maria Teresa in 1958-59 and Lella in the 1974-76.
While Maria Teresa holds the title of being No 1, Lella remains the sole female to have scored an F1 point!
Maria Teresa de Filippis passed away in 2016, aged 89. Lella Lombardi succumbed to cancer in March 1992, aged 48.
EDITED by AC
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