Supercars teams have met about ownership change
Friday 10th September, 2021 - 11:48am
Team owners in the Repco Supercars Championship have had their first full meeting to get up to speed on where the category’s sale is at.
Speedcafe.com recently reported that such a meeting would take place – and that indeed has now happened, yesterday (Thursday) afternoon.
It’s believed Tim Miles of Miles Advisory Partners, who is handling the sale process on behalf of Supercars’ current majority shareholder Archer Capital, addressed team bosses via a Zoom meeting.
Two parties remain in the running: the merged TLA Worldwide/TGI Sport/Australian Racing Group bid being the favourite, and the Brisbane Broncos’ partnership with a Peter Adderton-led consortium the outsider.
Both are jostling for a 100 percent takeover of the championship, and each seemed to have satisfied the $60 million price demand for Archer’s estimated 65 percent share.
Now they need to unanimously win over the teams, which collectively hold a 35 percent stake.
When that might be completed remains a mystery, although many still believe an outcome is likely in the coming month or so.