Supercars sale won’t hurt Bathurst races: Council

FAST MONEY: Bathurst Regional Council believes the proposed sale of Supercars won't impact on the future of the Bathurst 1000. Photo: GETTY IMAGES
FAST MONEY: Bathurst Regional Council believes the proposed sale of Supercars won't impact on the future of the Bathurst 1000. Photo: GETTY IMAGES

THE proposed sale of Australia’s premier motor racing series is not expected to impact on the future of the iconic Bathurst 1000.

Speedcafe.com reported this week that Archer Capital was seeking to offload its majority 65 per cent stake in Supercars at an asking price of $100 million.

A number of major corporations have been suggested as potential buyers, including News Corp Australia, Sports Entertainment Limited and Ticketek owner TEG.

Supercars’ 26 Racing Entitlement Contract (REC) holders, which currently own the remaining 35 per cent, are also believed to be considering a buy-out offer.

Regardless of the behind-the-scenes negotiations, though, Bathurst Regional Council remains confident in the future of the Supercheap Auto Bathurst 1000 and Liqui Moly Bathurst 12 Hour.

Council is a partner in both local Supercars events.

“These events are both staged on the iconic Mount Panorama racing circuit, the jewel in the crown of Australian motorsports,” mayor Graeme Hanger said.

“Council will watch with interest the proposed sale of Archer Capital’s stake in Supercars but we do not believe the sale will have any adverse impact on council’s long-term relationship with Supercars and the ongoing operation of these internationally acclaimed motorsport events.

“The strong interest in the sale of Archer Capital’s stake in Supercars is a reflection of the Supercars brand and the continued growth and interest in the Supercars championship both within Australia and internationally, and this reflects on the value of the ongoing partnership council has with Supercars.”

Speedcafe reported that Supercars CEO James Warburton said the sport would continue to focus on growth.

“Our focus is the continued growth of a thriving business, renowned international motorsport category and tier one Australian mainstream sport, and realising our 2025 vision,” he told the motorsport news site.

The 2017 Supercheap Auto Bathurst 1000 will run from October 5-8.