Seamer hoping to stay on post-Supercars sale
Saturday 10th July, 2021 - 6:00am
Supercars CEO Sean Seamer says he wants to deliver on a five-year plan set out in 2019 despite the impending sale of the business.
Supercars is in the midst of a proactive sale process and has attracted significant interest from several parties.
Four groups are known to have registered their interest in buying the business with opening offers coming in earlier this week.
Among the options for a potential sale of Supercars is the transfer of the 65 percent stake owned by Archer Capital.
It’s also possible that the business is sold in its entirety, which would include the stake currently held by the teams pending approval from them.
Tim Miles, who has been charged with finding a buyer via his Miles Advisory Partners firm, has said a sale could be completed by the end of the year.
What that might mean for Supercars’ incumbent CEO is not yet known.
Nevertheless, the sale is no deterrent for what Seamer would like to achieve as the category boss.
The coronavirus pandemic and its setbacks remain a motivator for Seamer to stay on into the new year and beyond.
“Oh look, it’s still very, very early days in the process,” said Seamer.
“Ultimately management will do what’s right for the sport and what’s right for any potential change in ownership.
“I don’t think anyone ever thinks their job’s done. We lost a year to COVID last year, so there’s a lot of work that we didn’t get done that we’d like to get done.
“We’re probably only one year into the five-year plan that we put together in 2019 as a leadership team.
“I can’t speak for my peers but we lost a year to COVID last year and we want to deliver the plan.”
Seamer said he’s not surprised to see Supercars attract a high degree of interest from prospective buyers.
Despite the pandemic, the category was able to sign a five-year television deal with Foxtel and the Seven Network worth as much per annum as the previous agreement with Foxtel and Network 10.
The championship was also able to navigate challenges created by COVID-19, financially propping up its teams and drivers, some of which were on the road for more than 100 days.
“Oh look, I think that what we’ve been through over the past 12 months, what we’ve shown to our partners, the ability to get a championship away last year, the resilience that the teams and we all showed and the commitment that we showed to the sport,” said Seamer.
“The fact that we were able to get a good new broadcast agreement in place, that we’ve got a new five-year naming rights partner in Repco, all show that there’s a lot of strength in Supercars and I’m not surprised that there’s interest.”