27 November 2021
Supercars can confirm that the sale process between Racing Australia Consolidated Enterprises Ltd (RACE), Archer Capital and Supercars’ Team Owners has been completed. Miles Advisory Partners acted for Archer Capital and Supercars’ Team Owners on the sale.
Supercars is one of the world’s most iconic sporting and entertainment franchises which is ingrained in Australian culture. With events featured in every state and territory of Australia, Supercars is one of Australia’s most recognised sporting events, with premier races such as the Bathurst 1000.
Outgoing Supercars Chairman Peter Wiggs said: “It has been a fantastic and exciting ten-year journey to date, and this new ownership structure and investment are an exceptional outcome for everyone who loves this sport.
“Everyone at Supercars should be immensely proud of what we have achieved and the challenges we have overcome, particularly in recent years. I see the coming years as the most exciting and most dynamic in Supercars’ history and look forward to watching on as a fan in the future.”
Supercars CEO Sean Seamer said: “Supercars has been a success story of growth since its inception in 1997, growing to become Australasia’s number one motorsport category, watched by millions around the world.
“It would not have happened had it not been for the unwavering professionalism, sporting brilliance and sheer guts of the teams.
“We thank Archer Capital for being pivotal in the growth of Supercars over recent years, overseeing all commercial matters including management of media rights and sponsorships, including the most recent naming rights partnership with Repco and five-year broadcast agreement with Fox Sports and the Seven Network worth more than $200 million.
“We welcome RACE to the Supercars family and are excited for the future that is in store for our sport.”
Triple Eight Race Engineering Managing Director, Roland Dane said: “On behalf of the teams we’d like to thank Peter Wiggs for his contribution to Supercars, especially over the last two seasons in the covid environment.
“We are now looking forward to a new beginning and working with Barclay Nettlefold and his group under a new structure which hopefully creates an environment where the sport and teams can thrive even more.”