How 100 percent ownership model is helping Supercars
Saturday 22nd January, 2022 - 1:00pm
Supercars chairman Barclay Nettlefold says his RACE consortium has been able to better lead the championship thanks to having sole ownership.
For the past decade, Supercars was majority owned by Archer Capital, with the competing teams collectively holding a 35 percent stake through the Racing Entitlements Contract system of old.
That model changed when Racing Australia Consolidated Enterprises Ltd purchased 100 percent of the business, a transaction that was officially completed in late November.
The teams’ shareholding had been something of a contentious topic, given the potential for a conflict of interest.
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Nettlefold reported that the new system is working well.
“We’re able to strategically now work with the leadership team with Shane [Howard, incoming CEO] and focus on the investment side of the business, work on the growth opportunities, the digital platforms that we want to invest heavily into and Gen3, what an exciting platform Gen3 is,” he said.
“It’s really up to us to invest in behind it for the betterment of the sport and the teams.
“It just makes it a lot more streamlined.
“For Shane and I, with Skaifey [Mark Skaife, RACE board member], it enables us to really communicate properly to the teams in a succinct manner and get the respect as an owner should in regards to the investment theses.”
Supercars teams will continue to have an input via the revamped Commission, which will now feature representation from all 11 full-time squads.