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Supercars shares change palms

Supercars shares change palms

Round half of what’s generally called the Australian Racing Group portion of the shareholding, which was acquired as a part of the takeover from Archer Capital final 12 months, he been bought off.

ARG co-owners Garry and Barry Rogers, and Brian Boyd, had been late additions to the profitable bid for RACE to buy Supercars from Archer, and had been collectively understood to carry roughly 30 per cent, which unofficially sat underneath the ARG banner.

Barry Rogers confirmed to Motorsport.com that it’s Boyd’s shares, not the Rogers’ shares, which were bought at this level.

The sale of the shares comes following a tumultuous interval in relations between ARG and RACE.

ARG is understood to be disgruntled over the shortage of cohesion between Supercars and ARG’s suite of classes, which incorporates TCR Australia, S5000, Touring Automobile Masters and Trans Am.

That was highlighted by a latest resolution by Triple Eight to ban Shane van Gisbergen from competing in Trams Am, which is believed to have come following strain from Supercars itself.

The stress was then heightened by a recent foreign takeover bid from Belgian media company FanTech, which was turned down by the Supercars board.

Garry and Barry Rogers had been later publicly crucial of the choice to not promote.

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That was regardless of some particulars of the bid being unclear, together with whether or not FanTech had the funding able to go, or wanted to lift capital.

RACE is but to formally affirm that the shares have been bought, whereas the identification of the client can be unclear, though sources have instructed it’s among the many present shareholders.

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