SUPERCARS BUY-OUT PLANS REVEALED
By Mark Fogarty
Date posted: 1 July 2021
Two high-powered groups are preparing to make bids to buy Supercars, with both promising to become long-term owners.
Amid widespread confirmation that a Supercars sale is “in play”, V8 legend Mark Skaife and maverick telco entrepreneur Peter Adderton are leading rival buy-out plans.
Skaife has combined with leading sports marketing agency TLA to mount a takeover bid, while Adderton has formed a consortium of racing identities.
Five-time ATCC/Supercars champion Skaife is working with former Collingwood AFL star Craig Kelly, the CEO of TLA, assembling a powerful proposal to buy Supercars from private equity owner Archer Capital.
Boost Mobile chief Adderton has formed a bid group with five-time world 500cc motorcycle champion Mick Doohan, ex-racer Paul Morris, and expat BTCC boss Alan Gow.
SCT transport mogul Peter Smith – who owns the REC that underpins son Jack’s BJR entry – is also linked to the high-powered syndicate.
Australian Racing Group, which made a previous offer to buy Supercars, could also be in the mix.
With negotiations at a delicate pre-formal bid stage, none of the principals of the two main bids are prepared to talk.
However, Auto Action has gathered broad intelligence that confirms the Adderton- and Skaife-led buy-out plans.
The bids differ markedly in that the Adderton group is proposing to purchase 100 per cent of Supercars for total control, while the TLA bid would just be for Archer’s majority share, leaving the teams with 35 per cent.
AA understands the price difference is $100 million for a total takeover or as little as $30 million if the teams retain their stake. Around $60 million is Archer’s target.
Archer Capital bought Supercars in 2011 for a reported $180 million as part of a basket of venture capital investments, selling the other components – including fast-food chain Red Rooster – for a big profit.
Archer hasn’t funded Supercars in recent years and is looking to get out at the current market price, having made money for most of the life of its ownership.
It is now actively seeking expressions of interest to on-sell Supercars by the end of the year.
In the latest issue of Auto Action on sale now, we delve further into the bidding parties, look at the current state of play and what they intend to do with the series going forwards.
Also make sure you follow us on social media Facebook, Twitter, Instagram or our weekly email newsletter for all the latest updates between issues.
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The Bathurst 1000, held at Mount Panorama Circuit in Bathurst, New South Wales, is arguably the most famous race in the Supercars calendar. Other significant races include the Sandown 500 and the Adelaide 500, which are known for their challenging circuits and thrilling competitions.
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