The earlier Supercars sale threads may have been lost in the kerfuffle.
QuoteArcher Capital in pole position for Supercars sell-off
NICK EVANS
RESOURCE WRITER
4:00PM JUNE 20, 2021
Private equity investments in sport are heating up.
At the head of the field is the Supercars motor racing competition, where private equity outfit Archer Capital is trying to offload its majority stake.
Archer has an information memorandum doing the rounds for the competition, which does roughly $20m in annual pre-tax earnings.
Four or five parties have kicked the tyres on the investment, in a process being run by Miles Advisory.
But the glory days are well and truly over in terms of Archer's value.
It paid $180m for its 65 per cent shareholding back in 2011.
Archer is winding up the fund that contains its Supercars investment.
One source said it might only get $30m-$35m, but another thought it could double that.
As always, complicating matters are the owners of the Supercars teams themselves, who own just about all of the remaining 35 per cent of shares.
There are said to be "drag and tag along" provisions in the contract between Archer and the teams, effectively meaning the teams may have to be bought out at the same value that Archer would theoretically sell its shareholding at.
That is said to have proven to be a stumbling block in previous attempts by Archer to sell out.
Meanwhile, soccer's A-league is also moving closer to a deal to sell up to 25 per cent of its competition to private equity.
Some of the funds, which could be up to $100m, would be earmarked for a soccer-specific digital platform that could telecast matches and provide highlights and other content directly to consumers.
Rugby Australia has also expressed its keen interest in selling some of the sport's commercial properties to private equity.
https://www.theaustralian.com.au/business/dataroom/archer-capital-in-pole-position-for-supercars-selloff/news-story/36466ae18b8c27481441e9ee32aa6e50
May be behind a paywall.
Teams need to buy it out as cheap as possible and take over full control
Quote from: Troy01505 on June 21, 2021, 08:41:11 AM
Teams need to buy it out as cheap as possible and take over full control
No. They need someone independent to buy it as they need extra dollars for the new cars.
Quote from: Troy01505 on June 21, 2021, 08:41:11 AM
Teams need to buy it out as cheap as possible and take over full control
Why would they buy it back, they sold it for a reason?
CAMS should be given it back for free
Speedcafe catching the wind now too:
https://www.speedcafe.com/2021/06/23/momentum-building-for-sale-of-supercars/
Morris? Adderton? What was the rumour recently too - the Quinn's?
Don't see the teams buying it, they're struggling to fork out the money for a GenIII car, they wouldn't be able to split $30mil (assuming tha's best case).
Need Roger Penske to buy it!
Good deal for Tim Miles to be involved in both ends of the sale
Quote from: skaifeman on June 23, 2021, 09:01:27 PM
Speedcafe catching the wind now too:
https://www.speedcafe.com/2021/06/23/momentum-building-for-sale-of-supercars/
Morris? Adderton? What was the rumour recently too - the Quinn's?
Don't see the teams buying it, they're struggling to fork out the money for a GenIII car, they wouldn't be able to split $30mil (assuming tha's best case).
Not ALL teams are struggling for money and Morris, Adderton, Taylor and Quinn seem to have heaps for a start.
Quote from: stevo qld on June 24, 2021, 11:41:12 AM
Quote from: skaifeman on June 23, 2021, 09:01:27 PM
Speedcafe catching the wind now too:
https://www.speedcafe.com/2021/06/23/momentum-building-for-sale-of-supercars/
Morris? Adderton? What was the rumour recently too - the Quinn's?
Don't see the teams buying it, they're struggling to fork out the money for a GenIII car, they wouldn't be able to split $30mil (assuming tha's best case).
Not ALL teams are struggling for money and Morris, Adderton, Taylor and Quinn seem to have heaps for a start.
Just because they have "heaps" doesn't mean they should buy it...
Quote from: stevo qld on June 24, 2021, 11:41:12 AM
Quote from: skaifeman on June 23, 2021, 09:01:27 PM
Speedcafe catching the wind now too:
https://www.speedcafe.com/2021/06/23/momentum-building-for-sale-of-supercars/
Morris? Adderton? What was the rumour recently too - the Quinn's?
Don't see the teams buying it, they're struggling to fork out the money for a GenIII car, they wouldn't be able to split $30mil (assuming tha's best case).
Not ALL teams are struggling for money and Morris, Adderton, Taylor and Quinn seem to have heaps for a start.
Then teams buying in won't work. All would need to buy in or none.
Imagine a series (for example, teams with assumed money) where Tickford, DJR, 888 and WAU owned it... would any other team really bother showing up?
Quote from: Troy01505 on June 21, 2021, 08:41:11 AM
Teams need to buy it out as cheap as possible and take over full control
A little American Open Wheel history here, men. CART took over Indycars in the early 80s and had a good run until big $$$ and the Indianapolis Motor Speedway heir, Tony George wrecked it all in the mid 90s.
Team ownership is the way to go IMO.
Quote from: skaifeman on June 24, 2021, 12:10:25 PM
Quote from: stevo qld on June 24, 2021, 11:41:12 AM
Quote from: skaifeman on June 23, 2021, 09:01:27 PM
Speedcafe catching the wind now too:
https://www.speedcafe.com/2021/06/23/momentum-building-for-sale-of-supercars/
Morris? Adderton? What was the rumour recently too - the Quinn's?
Don't see the teams buying it, they're struggling to fork out the money for a GenIII car, they wouldn't be able to split $30mil (assuming tha's best case).
Not ALL teams are struggling for money and Morris, Adderton, Taylor and Quinn seem to have heaps for a start.
Then teams buying in won't work. All would need to buy in or none.
Imagine a series (for example, teams with assumed money) where Tickford, DJR, 888 and WAU owned it... would any other team really bother showing up?
Buy out the other teams, 2 GM, 2 Ford... equal amounts of both sides on the grid...
I don't think it would happen... perhaps it really needs someone to just come in and buy out the whole kit and run the show "properly" whatever that may look like...
With so many cooks in the kitchen it can't work.
Quote from: LG on June 24, 2021, 12:04:51 PM
Quote from: stevo qld on June 24, 2021, 11:41:12 AM
Quote from: skaifeman on June 23, 2021, 09:01:27 PM
Speedcafe catching the wind now too:
https://www.speedcafe.com/2021/06/23/momentum-building-for-sale-of-supercars/
Morris? Adderton? What was the rumour recently too - the Quinn's?
Don't see the teams buying it, they're struggling to fork out the money for a GenIII car, they wouldn't be able to split $30mil (assuming tha's best case).
Not ALL teams are struggling for money and Morris, Adderton, Taylor and Quinn seem to have heaps for a start.
Just because they have "heaps" doesn't mean they should buy it...
I was not suggesting that they should LG. i was responding to skaifeman's suggestion that the teams are struggling financially (not verbatim).
Most of the Supercar teams have owners or part owners who have the financial ability to spend $30M to $49M, but would they really want to.
Regardless, the new Gen 3 would cost less than $2M for a 2 car entry plus spares, maybe even a spare car. There are only 3 teams that appear to be stretched, BJR, MSR and TS, but appearances aren't always accurate. The last 2 have wealthy part owners, as do all the other teams.
What would a new owner possibly enforce? There wouldn't be a radical make-over of Supercars. What it is it that fans want?
Full-season FTA?
30 cars on the grid?
More races on the calendar?
Door-to-door racing?
Larger audience and fan base?
New video game?
Return of 2x200km SuperSprints?
Third commentator to split Crompo and Skaife's bs?
Yes to all of the above. If the fans get these little things, regardless of who the owner is, they will be happy.
I'd be more concerned with some of the names mentioned that they'd instead go down the gimmicky path rather than some of those more sensible changes.
Supposedly 3 consortiums looking in to it.
Please don't let the consortium being led by Skaife be the ones.
There was the rumour doing the rounds on Racing Insiders that RD, The Dude and the Sultan of Johor were going to purchase it.
It would be a bit ironic if Peter Adderton and Paul Morris bought it. Mr Boost and Morris Sr were the seorm enemy of said series they may be buying all those years ago.
Not to mention Alan Gow being a part of the alleged consortium too
Kelvin O'Reilly to replace Mr Seamer one would then assume?
Speedcafe has an article linking Skaife to a rival bid....his ownership of HRT a didn't go well, sure hope he hasn't learnt a bit since then
Quote from: Trickyonne on June 27, 2021, 07:55:59 AM
Speedcafe has an article linking Skaife to a rival bid....his ownership of HRT a didn't go well, sure hope he hasn't learnt a bit since then
Skaife was just the puppet that got swindled!
I'd be happy with Dane, Morris and Adderton teaming up to purchase as long as they sack the CEO
There should be new Supercar owners before 2022, so many of the current Gen 3 management criticisms will hopefully cease to be relevant.
A lot depends on whether the buyout is just Archer or the buyout is complete Archer plus team shares.
Should the new owners, or alternatively, the new major shareholder plus the minority shareholding teams, decide to leave Gen 3 until 2023, then I would not be surprised to find that there are a lot more cost cutting changes.
The cost cutting issue is very much supported by the majority, at minimum, of the favoured buying group.
QuoteAmong the contenders to have emerged is a consortium between Bathurst 1000 winner Morris, Boost Mobile mogul Peter Adderton, SCT Logistics boss Pete Smith, MotoGP legend Mick Doohan and British Touring Car Championship CEO Alan Gow.
If it happens, former racer and manager in Australia and current BTCC boss Alan Gow would be a superb choice to sort out the Gen 3 debacle and maybe return home a become Supercars CEO. (I live in hope)
https://www.speedcafe.com/2021/07/02/morris-breaks-silence-on-supercars-ownership-bid,
I'm hoping ARG buy it even though it seems unlikely
Quote from: SetonFan on July 04, 2021, 11:01:10 PM
I'm hoping ARG buy it even though it seems unlikely
Some of the mouth breathers would be up in arms complaining that ARG own everything.
Opening bids due by 12pm today... No one knows the mysterious fourth bidder???
Quote from: brighty08 on July 07, 2021, 08:46:15 PM
Opening bids due by 12pm today... No one knows the mysterious fourth bidder???
Rumoured to be TEG/Ticketek:
https://www.speedcafe.com/2021/07/07/opening-bids-roll-in-for-supercars-buy-out/
Whoever does buy Supercars needs to shake things up. More car brands are needed, at the moment you can buy a Mustang from a Ford showroom, but you can't by an Opel. Car makers like BMW, Mercedes, Kia (Stinger) need to be wooed. The reason other car makers have not been interested is there was never a level playing field. In the past Mercedes and Volvo were never allowed to be competitive. Holden is dead, the current owners are still feeding of it's stinking corpse!
Quote from: brighty08 on July 07, 2021, 08:46:15 PM
Opening bids due by 12pm today... No one knows the mysterious fourth bidder???
Maybe you don't, but others clearly do know.
Quote from: coyote302 on July 08, 2021, 09:32:09 AM
Whoever does buy Supercars needs to shake things up. More car brands are needed, at the moment you can buy a Mustang from a Ford showroom, but you can't by an Opel. Car makers like BMW, Mercedes, Kia (Stinger) need to be wooed. The reason other car makers have not been interested is there was never a level playing field. In the past Mercedes and Volvo were never allowed to be competitive. Holden is dead, the current owners are still feeding of it's stinking corpse!
Volvo weren't allowed to be competitive?
Supercars don't allow an electric package, which is why Sweden pulled out. ;)
Their track record screams competitive... in fact... winning pedigree.
https://autoaction.com.au/2021/07/18/three-supercars-bids-axed
The bids still in play are ARG, the Skaifey/TLA one and a mystery buyer.
The Adderton/Dude/Gow/Smith/Doohan one is out. While Gow, Adderton and Paul Morris are known quantities, I'm unsure what Peter Smith can bring to the table apart from trains and truckloads of cash?
What was Doohans legacy at the helm of Karting Australia?
The Adderton plus plus bid was rejected because they wanted to buy the entire operation which included the teams, 35% stake.
Rumoured that Skaife and co leading the race to own with support from most teams.
Another rumour has the big dog coming back to rebuild his baby.
Down to two: ARG and TLA
https://www.speedcafe.com/2021/08/08/supercars-sale-shortlist-narrows-further/
Seems Adderton and co were knocked back as they wanted the full 100% - buying out the teams.
The last couple of posts are based on rumours, as yet not verified by the sellers or even the potential purchasing groups.
The last two are doing due diligence.
One group, allegedly knocked out, may not need to do due diligence as they are already very familiar with the Supercars operation.
Archer are still in the "Show us the money !" situation.
News Corp join with Adderton and co?
https://www.speedcafe.com/2021/08/10/news-corp-could-join-race-for-supercars-ownership/
Two more rumours, neither quoting alleged bidders or sellers.
Also multiple consortium versions in different media reports.
Quote from: stevo qld on August 10, 2021, 03:25:54 PM
Two more rumours, neither quoting alleged bidders or sellers.
Also multiple consortium versions in different media reports.
That's all we'll get as all dealings with prospective buyers and their bids are in confidence...
Quote from: LG on August 10, 2021, 06:01:44 PM
Quote from: stevo qld on August 10, 2021, 03:25:54 PM
Two more rumours, neither quoting alleged bidders or sellers.
Also multiple consortium versions in different media reports.
That's all we'll get as all dealings with prospective buyers and their bids are in confidence...
precisely!
Quote from: skaifeman on August 10, 2021, 02:40:10 PM
News Corp join with Adderton and co?
https://www.speedcafe.com/2021/08/10/news-corp-could-join-race-for-supercars-ownership/
Hmmm. If they did buy it, would they use their creative accounting methods?
That caused quite a Storm.
It's starting to look like the interested parties both want to buy the whole shebang and relieve the teams of their 35% as well.
https://www.speedcafe.com/2021/08/29/supercars-teams-set-to-relinquish-category-ownership/
Quote from: LG on August 29, 2021, 09:00:49 AM
It's starting to look like the interested parties both want to buy the whole shebang and relieve the teams of their 35% as well.
https://www.speedcafe.com/2021/08/29/supercars-teams-set-to-relinquish-category-ownership/
There may be good reason for that. Its likely the changeover to the newer, cheaper cars isn't cheaper at all.
I think we've seen this episode before, as that's why it was sold off in the first place.
Quote from: LG on August 29, 2021, 09:00:49 AM
It's starting to look like the interested parties both want to buy the whole shebang and relieve the teams of their 35% as well.
https://www.speedcafe.com/2021/08/29/supercars-teams-set-to-relinquish-category-ownership/
I wonder what that will do to entry lists? Does it mean that the closed shop scenario is gone and that any one with an inspec car can turn up and try to qualify?
Hope so
Quote from: CP on August 29, 2021, 09:12:09 AM
Quote from: LG on August 29, 2021, 09:00:49 AM
It's starting to look like the interested parties both want to buy the whole shebang and relieve the teams of their 35% as well.
https://www.speedcafe.com/2021/08/29/supercars-teams-set-to-relinquish-category-ownership/
There may be good reason for that. Its likely the changeover to the newer, cheaper cars isn't cheaper at all.
I think we've seen this episode before, as that's why it was sold off in the first place.
Dearie me! :o :-[
All this time, I was thinking that the previous owners sold it to make a substantial profit when they found a cash cow in Archer.
Even the team owners made money, plus retained a share in the business.
I don't get the whole "we need to buy the teams out to gain complete control" talk. If you buy 65% of any business you have complete control to do whatever you want, the 35% can't do jack!
Quote from: Joe5619 on August 29, 2021, 10:34:20 AM
I don't get the whole "we need to buy the teams out to gain complete control" talk. If you buy 65% of any business you have complete control to do whatever you want, the 35% can't do jack!
The impression I get, The teams are the actual show. They must be consulted and if they don't like anything they have a leg to stand on.
Just to get it into perspective, a little nostalgia.
Archer supposedly paid $300 million for 60%.
They will be lucky, on present indications to get even $100 million.
The second report (Reuters) suggests that they paid 60% of $317 million. That's closer to $190 million still looking at a big loss on sale.
QuoteTHE V8 Supercars has officially sold to a Sydney-based investment firm for more than $300 million.
Archer Capital now owns 60 per cent of the V8 Supercars through its Australian Motor Racing Partners (AMRP) subsidiary, marking a significant ownership reshuffle for the Gold Coast-based motorsports brand.
https://www.businessnewsaustralia.com/articles/sydney-company-buys-v8-supercars.html
QuoteMELBOURNE, May 17 (Reuters) - Australian private equity firm Archer Capital has agreed to acquire a majority stake in V8 Supercars Australia that values the total business at more than A$300 million ($317 million), the motorsport race group said.
The terms of the deal, expected to close in late May, were confidential.
Archer will back Australian Motor Racing Partners to take a 60 percent stake in V8 Supercars. Racing teams and management will hold the remaining 40 percent equity interest.
https://www.reuters.com/article/archer-idUSS9E7G304C20110517
Quote from: Joe5619 on August 29, 2021, 10:34:20 AM
I don't get the whole "we need to buy the teams out to gain complete control" talk. If you buy 65% of any business you have complete control to do whatever you want, the 35% can't do jack!
It appears that although they teams only have 35%, they have a lot of rights built in to that 35%, including seemingly the power to veto any deal done for the 65% Archer share.
Quote from: Roadways6 on August 29, 2021, 02:56:57 PM
Quote from: Joe5619 on August 29, 2021, 10:34:20 AM
I don't get the whole "we need to buy the teams out to gain complete control" talk. If you buy 65% of any business you have complete control to do whatever you want, the 35% can't do jack!
It appears that although they teams only have 35%, they have a lot of rights built in to that 35%, including seemingly the power to veto any deal done for the 65% Archer share.
Archer really got screw on this deal from the beginning to the eventual end!! Why would you buy 65% of any business & still not have complete power is a very very very bad deal to say the least. I can't see anyone dumb enough to sign those terms again.
If Archer purchased 60% and the teams have 35%. is there another 5% owner lurking in the wings and keeping very quiet?
If so, is that 5% owner involved in a buyout consortium?
PS: Archer were not screwed by the seller. They were screwed by their own supposedly highly talented and well paid analytical brains trust.
Anyone who has invested in shares know that mostly, you win some and lose some and then claim a tax deduction for the loss.
Also depends on what turnover they made year to year.
QuoteThe contest for the V8 Supercars business is understood to have narrowed to one party, which has lobbed its final offer and is waiting to hear from owner Archer Capital if it is the successful buyer.
The Australian Racing Group consortium and the TGI Sport consortium have joined forces to form one proposal after earlier competing with each other for the business, which is up for sale through Miles Advisory.
ARG is owned by Brian Boyd and John McMellan from Payce Property, along with well-known racing identities Garry and Barry Rogers.
The TGI Sport consortium also includes TLA Worldwide, run by Craig Kelly and Mark Skaife.
Funding the offer is TGI's US-based owner Bruin Sports Capital.
The understanding is that the offer came in around the $60m mark.
Earlier, there was talk that Australian businessman Peter Adderton was partnering with NRL team the Brisbane Broncos to buy Supercars, but the thinking is that they are no longer in the mix.
Miles Advisory is now believe to be in discussions with the teams about the proposals.
One theory is that the bidder may have promised team owners $700,000 per season per racing entitlement contract.
V8 Supercars is among sporting events hard hit by the global pandemic, with its marquee event for the year, the Bathurst 1000, pushed back from October to November and earnings being severely hit.
Miles originally helped sell a majority stake in the V8 Supercars business to Archer in 2011 for a price that valued it at about $300m.
The supercars teams themselves own the remaining minority stake.
The understanding is that V8 has been making about $23m in annual earnings before interest, tax, depreciation and amortisation, but that was before the recent lockdowns to try to stem the spread of the Covid-19 Delta variant.
Much of the earnings winds up in the hands of the racing teams, according to industry analysts.
The broadcasting rights of V8, which are held by Seven and Fox Sports, are seen as a valuable part of the operation.
https://www.theaustralian.com.au/business/dataroom/v8-supercars-contest-on-the-home-straight/news-story/52b9bf0144d038a9233c3d06a0d05add
Much later: (the next month)
I have been pondering about the numerical (percentage) relative ownership of ALL the parties involved in previous bids.
If the bids do combine it will force down the price for Archer, but there are other ramifications.
Will the new consortium parties stump up the alleged $60Million or will they borrow the money? (Maybe from Archer)
The BIG questions to me are who will be the head honcho/CEO?????
Who will have the largest shareholding?
Who will be on the board and who will be the Chairman??
Quote from: stevo qld on August 29, 2021, 09:15:54 PM
If Archer purchased 60% and the teams have 35%. is there another 5% owner lurking in the wings and keeping very quiet?
If so, is that 5% owner involved in a buyout consortium?
PS: Archer were not screwed by the seller. They were screwed by their own supposedly highly talented and well paid analytical brains trust.
Anyone who has invested in shares know that mostly, you win some and lose some and then claim a tax deduction for the loss.
Cochrane may be the man with 5%.
Not just Cochrane but Warburton has a share of the 5% too IIRC
https://www.theaustralian.com.au/business/companies/supercars-value-falls-200m-after-sale-confirms-big-hit-taken-by-private-equity-outfit-archer-capital/news-story/8d62a3d13513f786c53297f51f2cac78
QuoteSupercars value falls $200m after sale confirms big hit taken by private equity outfit Archer Capital
Profits for the Supercars motor racing series have been falling as the sport takes a Covid hit.
EXCLUSIVE
JOHN STENSHOLT
EDITOR, THE LIST
@JohnStensholt
2 HOURS AGO OCTOBER 14, 2021
Private equity outfit Archer Capital has taken the bulk of a $200m hit on the Supercars motor racing series, with a new ownership group set to take control in a deal representing less than one-third of its previous sale value.
In a transaction set to be announced as soon as Friday, Supercars will be sold in a $100.3m deal to The Australian Racing Group consortium and the TGI Sport consortium, which have joined forces to form one proposal after earlier competing against each other. About $57m of the deal will go to Archer, which paid about $180m to take a 60 per cent stake in Supercars in 2011 that valued the series at about $305m.
The remaining $35m will flow to the team owners over the next few years, as part of their racing entitlement contracts (RECs).
The deal was previously foreshadowed by The Australian's DataRoom column. Sale documents obtained by The Australian show that the new owners are buying a business that has also suffered a similar hit in profit over the past decade.
Under previous majority owners Sport & Entertainment Limited, Supercars achieved earnings before interest, tax, depreciation and amortisation of about $32m-$34m.
Documents seen by The Australian show that Supercars recorded "EBITDA before appearance and grid fees" of $23.8m from $118m revenue in 2019, the last completed year of racing that was not interrupted by Covid-19.
Those figures dropped to EBITDA before appearance and grid fees (which would run into the millions of dollars annually) of $18.5m from revenue of $55m in 2020 and then a projected $22.1m from $93.1m in the current 2021 year.
The most lucrative race on the Supercars calendar each year is the Bathurst 1000 event, which this year has been delayed until the first weekend of December due to Covid-19 and will take place after four races at Sydney's Eastern Creek from late this month and through most of November.
Various scenarios regarding future profit when a more consistent season can run are also included in the document, ranging from $110m revenue and EBIT of $24.4m in a 13-race season through to a 15-race championship that would generate $124.1m revenue and EBIT of $32.2m.
The sale documents claims future growth will be generated by "improving awareness around event schedule" and "additional government supported events" in Australia and New Zealand.
Supercars' new owners also believe they can tap into digital viewer demand for the racing series via a "digital transformation to broaden viewership reach and expand content offering", and also negotiate more lucrative broadcast and streaming services deals while enhancing "Supercars non-racing content via reality programs, documentaries and e-series".
The new owners were also undertaking a $25m capital raising led by advisory firm Henslow, with investors taking a large slice of the raising offered board seats and personalised VIP experiences at selected Supercars events.
Ordinary shareholders would be entitled to participate in dividends up to the first $2.5m of free cashflow. The overall structure would also include $35m of third-party debt.
A category of "value-add" shareholders would provide $6m in services such as billboards, radio promotion and industry expertise for two years before gaining ordinary shares.
Business and sporting identities that will be involved in the new ownership group include former QSM Media boss Barclay Nettlefold, respected former IMG Australia head Martin Jolly, TLA Australia chief executive Craig Kelly and champion racing driver turned commentator Mark Skaife.
Mr Kelly, a former Collingwood AFL premiership winner, has become one of the nation's most powerful sports management figures, with his TLA involved in various commercial and promotional projects with almost every major Australian sporting competition.
Australian Racing Group is owned by Brian Boyd and John McMellan from Payce Property and Payce Security, along with well-known racing identities Garry and Barry Rogers.
The TGI Sport consortium also includes TLA Worldwide with funding from TGI's US-based owner, Bruin Sports Capital.
JOHN STENSHOLT EDITOR,
This looks to me like a back in for GRM as an owner of the series and a rec to spare. Thanks very much I'll have that and get my team going again.
We can only hope. I miss GRM. 😏 I trust Brian Boyd, John McMellan, and the Rodgers family but the rest of the consortium worries me. I have no love for Adderton or Terry Morris, but I respect their intention.
BTW, surely the new owners have realised that Gen 3 doesn't really solve any problems. I am yet to hear any reason why TA2 wouldn't work. If you must "Australianise" them, then more power, better tyres and MARC uprights would make them different, but still cheap to repair or replace.
A done deal apparently...
https://autoaction.com.au/2021/10/28/supercars-sale-done-deal
Quote from: Westfield on October 26, 2021, 07:47:59 PM
We can only hope. I miss GRM. 😏 I trust Brian Boyd, John McMellan, and the Rodgers family but the rest of the consortium worries me. I have no love for Adderton or Terry Morris, but I respect their intention.
Adderton and Morris were involved in the losing consortium, so there's no need to worry about them Westfield ;)
I acknowledge that Morris and Adderton "lost", but it doesn't mean that I don't respect their intentions. A lot of their ideas appear in the final deal anyway....
There is still a bit of uncertainty over the final structure of R.A.C.E. and the Board.
Two major Supercar publications are naming a different chairman.
Some of the consortium names seem to have been lost from stories.
There was an alleged $25 million dollar input from a late unnamed participant, who may or may not have displaced others.
(Not complete references, that would be too numerous. Look at Speedcafe and Auto Action for starters.)
There is not even a statement on the desired number of Racing Charters to be issued. (More please ;D )
https://www.speedcafe.com/category/news/
https://www.speedcafe.com/2021/10/28/five-key-questions-the-sale-of-supercars/
https://autoaction.com.au/
https://autoaction.com.au/2021/10/28/supercars-sale-done-deal
Quote from: Westfield on October 28, 2021, 07:14:31 PM
I acknowledge that Morris and Adderton "lost", but it doesn't mean that I don't respect their intentions. A lot of their ideas appear in the final deal anyway....
Until they brought in News Limited, I was all for the Adderton consortium
The mob that have now got it now aren't a positive in my opinion
Quote from: Roadways6 on October 29, 2021, 03:36:02 PM
Quote from: Westfield on October 28, 2021, 07:14:31 PM
I acknowledge that Morris and Adderton "lost", but it doesn't mean that I don't respect their intentions. A lot of their ideas appear in the final deal anyway....
Until they brought in News Limited, I was all for the Adderton consortium
The mob that have now got it now aren't a positive in my opinion
It's quite a loaded portfolio once you include what Supercars and ARG promote.
On the Supercars side you get Supercars Media, Supercars Events, Supercars, Super 2 and the Toyota 86 Series.
ARG has the Bathurst 6 Hour, Bathurst International, Race Tasmania, Trans Am, TCR, TCM, S5000, Super3 and GT World Challenge.
That's most of the CAMS touring series under the shared umbrella.
Enforcer and the Dude do a pretty good rundown of who's who from the winning bid in their latest episode:
https://www.youtube.com/watch?v=lu0DnpRHH30
Let's hope the new team don't go and do something stupid like multiple rounds back to back at eastern creek.
Hoping we go back to harder cars to drive requiring more driver input and a lower reliance on pit passing, the ZB and Mustang are to on point to create an abundance of exciting racing. Many races now are won on strategy or pace cars.
The sale is now complete.
https://www.v8sleuth.com.au/supercars-sale-complete-new-chairman-named/?fbclid=IwAR1gDvXgvAMuC-Ew_M8H79rgnwYJ3ceUt6qU4EA2Wh3ez-HEHnYi-1gYl9I