Deadline set for teams to make final REC submission
Thursday 13th May, 2021 - 6:00am
Prospective Racing Entitlements Contract bidders have until the close of business on May 21 to submit a formal tender to Supercars.
Supercars launched an expression of interest period on April 9, which concluded at the close of business (17:00 AEST) on Friday, April 23.
Those who have submitted an expression of interest can then present a formal proposal to Supercars for a Racing Entitlements Contract.
Supercars will then assess the tenders from the respective bidders and decide whether to begin a transaction.
Speedcafe.com understands the minimum bid for a Racing Entitlements Contract is in the vicinity of $20,000.
There are two Racing Entitlements Contracts up for grabs, formerly owned by Garry Rogers Motorsport and Tickford Racing.
Tickford Racing and Matt Stone Racing are believed to be among those to have submitted an expression of interest to Supercars.
There is said to be a possible mystery third bidder in the works, though the identity of that individual(s) hasn’t been revealed yet.
Some believe a rumour was started in a bid to effectively drive up the price of the Racing Entitlements Contracts.
Garry Rogers Motorsport had been rumoured to be in the mix when the expression of interest was launched, though they have dispelled any suggestions of a possible return.
Even if Tickford Racing and Matt Stone Racing are the only parties to make submissions, Supercars reserves the rights to withhold selling either of its contracts.
If both Racing Entitlements Contracts are sold, that could see the Repco Supercars Championship grid grow to 26 cars for next season.