The category was sold off by former majority owner Archer Capital last year, the RACE consortium winning out in a months-long bidding process.
As part of the sale the ownership model of the category underwent a significant change, RACE not just buying Archer’s 65 per cent of the business, but also taking control of the 35 per cent that was collectively owned by the teams.
That means RACE, led by Barclay Nettlefold, has total control over the series, with the teams shifting to a guaranteed annual income rather than earning from their shares.
The guaranteed income is thought to be around $650,000 per entry per year.
While RACE has only been at the helm of Supercars since late last year, Nettlefold says the category is already yielding the benefits of the new ownership model.
He says having 100 per cent ownership streamlines the operation of the category with roles clearly defined on both the investment side of the business, and operations led by new CEO Shane Howard.
Nettlefold…
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