THE RACE consortium that owns Supercars is assessing a buyout of the Australian Racing Group, in a dramatic twist to an ongoing saga.
RACE chairman Barclay Nettlefold has confirmed that RACE is looking to purchase the ARG business and will make a decision by the end of this month.
It is believed that RACE has held an option to buy ARG – which is co-owned by Garry and Barry Rogers and businessman Brian Boyd – since RACE was formed in 2021.
ARG controls a number of categories including TCR, Trans Am, S5000, TCM and Australian GT, and a buyout by RACE could yet unify a fractured Australian motorsport landscape.
It’s the latest bombshell in a somewhat confusing series of events surrounding the ownership of the Supercars business and its relationship with ARG.
Nettlefold made the admission of the possible buyout of ARG in response to news that a significant change of shareholding in RACE has taken place.
RACE was formed last year to buy the Supercars business from Archer Capital and the Supercars teams.
A Supercars announcement at the time explained “RACE is a consortium led by Melbourne Entrepreneur Barclay Nettlefold, together with the Australian Racing Group and Henslow.”
Barry Rogers told V8 Sleuth today that ARG has sold a significant portion of its RACE holding, which in total was believed to account for around 30 percent of the business.
However, it’s emerged that, contrary to previous statements by the parties involved, ARG itself did not own shares in RACE, but rather around 15 percent each were held separately by Boyd and the Rogers’.
Boyd is believed to have sold his share in RACE to investment firm Henslow, while the shares owned by Barry and Garry Rogers remain untouched.
“In the normal course of business shareholders buy and sell shares,” read a statement from Nettlefold.
“I wish to note ARG as an entity does not have a corporate holding in RACE, however individual shareholders that may be regarded as related parties of ARG do hold shares.
“A recent sale has been completed and the purchase of those shares has allowed for further consolidation in the shareholding of RACE.
“Regarding the potential sale of ARG to RACE as part of the initial RACE whole of sport strategy which is well documented, Management and Directors of Supercars and RACE continue to work through due diligence items in relation to a potential transaction and expect to finalise any recommendation this month.”
