RACE’s Acquisition of Supercars Championship

Lander & Rogers advised the Racing Australia Consolidated Enterprises (RACE) consortium in the acquisition. Johnson Winter & Slattery has acted for Archer Capital. Also Kain Lawyers worked on the deal.

The Supercars Championship has officially been sold, as majority shareholder Archer Capital agreed to sell V8 Supercars Holdings Pty Ltd, a motorsport entertainment services company that owns and operates the Supercars Championships.

Under this agreement, Racing Australia Consolidated Enterprises Ltd (RACE) has acquired 100% of the shares in the entity which were previously held by Archer Capital, management personnel and teams that compete in the Supercars Championship series.

Having taken control of the sport 10 years ago, Archer Capital will relinquish its majority share of Supercars to Racing Australia Consolidated Enterprises Ltd (RACE) – a consortium comprised of TGI Sport chairman Barclay Nettlefold, the Australian Racing Group (ARG) and advisory firm Henslow.

It is understood RACE will not only be taking over Archer’s complete 65 per cent stake, but also buying the remaining 35 per cent share from the teams, according to motorsport publication Speedcafe.

Racing Australia Consolidated Enterprises Ltd (RACE), is a newly formed consortium of motorsports and related industry players. Led by entrepreneur, Barclay Nettlefold, the consortium includes the Australian Racing Group (ARG), motor racing great Mark Skaife advisory firm Henslow and a host of media, sports and entertainment investors.

Supercars Championship is a touring car racing category in Australia, running as an International Series under Fédération Internationale de l’Automobile (FIA) regulations, governing the jocular racing.

The Lander & Rogers’ team was led by Partner Peter Monk (Picture), assisted by Daniel Hickman. 

The Johnson Winter & Slattery team was led by corporate partner Andrew Williams, senior associate Andrew Turner, associate Nathan Ricardo and law graduate Jared McLachlan. The team also included partner David Beckett and senior associate David Li (banking), partner Andreas Piesiewicz (litigation), partner Ruveni Kelleher and associate Megan Prouatt (employment), partner Ravi de Fonseka and senior associate Stanley Yu (IP/IT)  

Involved fees earner: David Beckett – Johnson Winter & Slattery; Ravi de Fonseka – Johnson Winter & Slattery; Ruveni Kelleher – Johnson Winter & Slattery; David Li – Johnson Winter & Slattery; Andreas Piesiewicz – Johnson Winter & Slattery; Megan Prouatt – Johnson Winter & Slattery; Nathan Ricardo – Johnson Winter & Slattery; Andrew Turner – Johnson Winter & Slattery; Andrew Williams – Johnson Winter & Slattery; Stanley Yu – Johnson Winter & Slattery; Daniel Hickman – Lander & Rogers; Peter Monk – Lander & Rogers;

Law Firms: Johnson Winter & Slattery; Lander & Rogers;

Clients: Archer Capital; Australian Racing Group; Henslow; Nettlefold Barclay;

Sonia Carcano

Author: Sonia Carcano