ALL IS not wine and roses at RACE (Racing Australia Consolidated Enterprises), owners of Supercars, with a build-up of disagreement on policy and planning creating division among key board members.
Something of a ‘cone of silence’ has descended upon the board over recent weeks, but news of a series of ‘urgent’ board meetings to try and resolve the issues is starting to circulate.
At the core of the unrest appears to be a souring of the relationship between board chairman Barclay Nettlefold and high-profile board member Mark Skaife (pictured above with Supercars CEO Shane Howard).
Although the RACE board has undergone some change over its existence, it is said to be modest in size and includes QMS Media Chairman Barclay Nettlefold, Stephen Macaw (of private equity company and significant investor Henslow), ACT-based property developer Jure Domazet, a significant shareholder, and Skaife.
Former ARG Chairman John McMellan was an initial board member, but that ceased with the withdrawal of Brian Boyd (PAYCE), and subsequently Barry Rogers – who both sold their 14% shareholding to other investors.
RACE chairman Barclay Nettlefold. Image: Bruce Williams
While most of the board comes from the world of finance and investment, Skaife is now seen as the only member with a significant motorsport background.
Just what the disagreement concerns, or whether it’s a general disquiet is not clear, but the Supercars chat is that Nettlefold and Skaife are no longer on the same page.
After two years in the role, AA understands that Nettlefold – whose time is primarily taken up by QMS Media – is looking to make some changes within Supercars management policy and planning.
Whatever, it seems to have put him into a degree of conflict with Skaife, whose other business commitments include a founding directorship and a reported shareholding in iEDM, the successful sports event logistics company which, among other things, assembles the infrastructure of the Australian Grand Prix at Albert Park for the AGP Corporation and the Adelaide 500 on behalf of the South Australian Motorsport Board, as well as being contracted directly to Supercars to engineer its events at Townsville and the Gold Coast 500 (and Newcastle during its existence).
Skaife also undertakes his TV commentary role on Fox Sports and other company directorships.
AA understands that matters came to a head some three weeks ago, prior to the Bathurst 500, with an urgent board meeting convened to discuss the situation. At the time, it was even considered that one or the other – Nettlefold or Skaife – might not survive the debate but, as it stands, there has been no change to date in the board’s make-up.
It is believed that Nettlefold recently met with the Supercars Teams owners, who have been asking to develop a closer working relationship with the RACE board including a better line of communication with the owners of Supercars teams and a drivers forum.
It is believed that another RACE board meeting has been scheduled for as early as today.
AA has contacted both parties but, understandably, no-one wants to comment at this point.
Watch this space …
There’s lots more loaded into a bumper edition of AUTO ACTION magazine, on sale at newsagents and available digitally here.
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