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Supercars sale confirmed

The sale of Supercars is official as the Race Australia Consolidated Enterprises Ltd (RACE) consortium was confirmed to have purchased the majority shareholding of the category from Archer Capital.

Led by Melbourne entrepreneur Barclay Nettlefold in partnership with the Australian Racing group and international financial advisory firm Henslow, RACE’s transition into ownership will be completed by the end of this year.

Nettlefold added: “Supercars, with the support of Archer, has done an amazing job navigating the past two years.

“The RACE Board and I look forward to combining our collective resources, heralding an exciting new era in the growth of a sport that all Australians love.”

“We set out to find a new majority shareholder that would be able to build on the work that Archer and the management team have done over the past five years,” added Peter Wiggs, Chairman of both Supercars and Archer Capital.

“The expertise that RACE has in sport, media, marketing and digital will enable just that.”

The winning RACE consortium combined the bids from sports management company TLA Worldwide, owned by worldwide sports media and technology group TGI Sport, together with the Australian Racing Group.