Australian motor-racing series the Supercars Championship has been placed up for sale with five entities reportedly interested in striking a deal.
The Championship’s primary shareholder, Sydney-based private equity firm Archer Capital, has held a 65 per cent stake since 2011, co-owning the business alongside the 26 Racing Entitlements Contract (REC) holders.
Archer has appointed investment bank UBS to explore a potential sale as part of a parcel of investments that have matured. The Supercars Championship is regarded as Australia’s third biggest sporting property and chief executive James Warburton has said it is “business as usual” during the process, which is likely to run for several months and may not result in a sale.
“Any sale process is entirely a matter for the shareholders,” Warburton told Supercars.com, the championship’s official website. “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.”
Australian newspaper the Daily Telegraph said Archer is seeking in excess of A$100m (€69.1m/$75.4m) for its stake, adding that five companies have already registered an interest. They are said to include News Corp Australia, parent company of championship broadcast rights-holder Fox Sports, as well as event and entertainment companies Sports Entertainment Limited (SEL) and TEG.
Archer acquired its stake for a reported A$180m from SEL and Supercars team owners.