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Old 1 Nov 2023, 00:05 (Ref:4183887)   #51
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Casper should be qualifying in the top 10 on the gridCasper should be qualifying in the top 10 on the grid
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Sorry I can’t link it but there is an article in the business section of The Australian today that paints a very grim picture about the long and short term financial position of RACE.
Multi million dollar losses and the financial report casts a lot of doubt on their ability to service their near $50million of debt going forward.
So I was right when I said it was not a viable business and questioned why anyone would put money into it in its current form which has not changed. My posts are here somewhere if you need to confirm what I said.

As for the current parity hoopla you can't run a 4 valve motor against a two valve motor and expect anything else than the problems it has created, again it is something I said that would not work, Mercedes and Nissan proved that. The blind leading the blind seems to be an apt description of the whole debacle.

Off topic but I may as well get both topics out of the way in one post as I don't come here much these days.
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Old 1 Nov 2023, 02:03 (Ref:4183896)   #52
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Old 1 Nov 2023, 02:08 (Ref:4183897)   #53
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Article is VERY concerning!

That the business is called out as not being a going concern without the injection of further capital, and the agreement of various lenders and debt holders.. makes it complex in team land to rely on income from this mother ship when it is clearly not assured, as described in the article.

Plus there is how many million in spend on wind tunnels and transient dynos that won’t turn a single dollar in income. Funny they could have to HPD in the US and these tools are all laid out.

But it seems Mr Skaife and Mr Nettlefold have a plan to bring in more income..

As an aside.. there have been a LOT of comments over the years about corporates and their place at events. The article duggests a $9m revenue stream from corporates and a $12m revenue team from regular punters…. Scary..
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Old 1 Nov 2023, 04:26 (Ref:4183904)   #54
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Article is VERY concerning!

That the business is called out as not being a going concern without the injection of further capital, and the agreement of various lenders and debt holders.. makes it complex in team land to rely on income from this mother ship when it is clearly not assured, as described in the article.

Plus there is how many million in spend on wind tunnels and transient dynos that won’t turn a single dollar in income. Funny they could have to HPD in the US and these tools are all laid out.

But it seems Mr Skaife and Mr Nettlefold have a plan to bring in more income..

As an aside.. there have been a LOT of comments over the years about corporates and their place at events. The article duggests a $9m revenue stream from corporates and a $12m revenue team from regular punters…. Scary..
“There is significant doubt the group will continue as a going concern”
Quote from their own financial statement showing how bad things are.
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Old 1 Nov 2023, 08:38 (Ref:4183916)   #55
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Speedcafe’s Take

An interesting classification of the payments made to build Gen3 chassis.
It begs some questions.. including whether the teams actually own their chassis, or the RACE mob does.. and whether the sale of same is somehow an income stream into RACE itself..
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Old 1 Nov 2023, 09:59 (Ref:4183923)   #56
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"RACE’s biggest expense in 2022 was ‘Administration’ at $41.4 million"

I knew it would be jobs for the boys, but come on. Does the Foxtel money even cover that?
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Old 1 Nov 2023, 10:02 (Ref:4183924)   #57
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Mixer should be qualifying in the top 3 on the gridMixer should be qualifying in the top 3 on the gridMixer should be qualifying in the top 3 on the gridMixer should be qualifying in the top 3 on the grid
Not sure I'd want to be Barry Rogers with ARG tanking too...
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Old 1 Nov 2023, 11:00 (Ref:4183932)   #58
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I'd say the Shahins still want it, but not just yet...

While ARG was able to offload AGT, sans the rights to GT4 (which is a whole other mess), could they convince SRO to take on TCR?
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Old 1 Nov 2023, 11:36 (Ref:4183934)   #59
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Mixer should be qualifying in the top 3 on the gridMixer should be qualifying in the top 3 on the gridMixer should be qualifying in the top 3 on the gridMixer should be qualifying in the top 3 on the grid
Shahins have not had their deal approved either.
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Old 1 Nov 2023, 21:38 (Ref:4183991)   #60
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"RACE’s biggest expense in 2022 was ‘Administration’ at $41.4 million"

I knew it would be jobs for the boys, but come on. Does the Foxtel money even cover that?
No doubt there are some well-paid people at Supercars these days but "Administration" is going to be a lot more than just salaries I would think (depends on how the accounts structure is set up). It'll include contingent liabilities such as long-service leave allowances, leave allowances generally and may include all operating costs such as leases, utilities, possibly travel costs and the like.

I'm not surprised that they made a loss in 2022, coming off the back of Covid and after all those years of Archer underfunding, plus of course all the work on the Gen 3 car. If they can get the investment they're looking for, the real test will be 2023 & I guess 2024 financials but as the series seems to be well-sponsored generally, it's likely that getting costs under control will be a big focus, as it may not be possible to grow revenue all that much.
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Old 6 Mar 2024, 05:07 (Ref:4200186)   #61
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AA’s Podcast this week suggests that the Messrs Rogers have sold out of the shareholding of RACE, as owners of the entities operating V8Supercar.

At a significant profit apparently.

No disclosure of the buyer..

One agitator off the board presumably..
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Old 6 Mar 2024, 06:22 (Ref:4200189)   #62
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AA’s Podcast this week suggests that the Messrs Rogers have sold out of the shareholding of RACE, as owners of the entities operating V8Supercar.

At a significant profit apparently.

No disclosure of the buyer..

One agitator off the board presumably..
Story Here
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Old 6 Mar 2024, 06:49 (Ref:4200191)   #63
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ARG seem to nurture the entirety of Australian Motorsport by acquiring, spitting off, choking and then dumping lots of categories?

Good job
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Old 6 Mar 2024, 08:40 (Ref:4200202)   #64
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Walcot LLC

Here

If they are connected to Liberty Media, this is gunna be fun..
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Old 7 Mar 2024, 02:18 (Ref:4200287)   #65
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ARG seem to nurture the entirety of Australian Motorsport by acquiring, spitting off, choking and then dumping lots of categories?

Good job
'WHEN Garry and Barry Rogers became shareholders in RACE, their goal was to support the country’s entire motor racing community, but two-and-a-half years later, the motorsport stalwarts and father-son duo behind Australian Racing Group are out.'*

I see enthusiast investor meeting the reality of 'making a quid' v. the 100% commercial operators the likes of Archer Capital i.e Private Equity.

*https://speedcafe.com/rogers-sell-su...seas-investor/

I watch with interest the re-launch of Calder Park by the 2nd generation of the Jane family.
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Old 7 Mar 2024, 02:32 (Ref:4200289)   #66
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Walcot LLC

Here

If they are connected to Liberty Media, this is gunna be fun..
QuintEvents acquired by Liberty F1 in Jan 2024:
https://www.libertymedia.com/news/de...ition-of-quint

First test for the new AGP CEO (Victorian Government) ?
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Old 10 Mar 2024, 04:18 (Ref:4200668)   #67
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QuintEvents acquired by Liberty F1 in Jan 2024:
https://www.libertymedia.com/news/de...ition-of-quint

First test for the new AGP CEO (Victorian Government) ?
The Walcott link with Quint and therefore Liberty was removed a while back.
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Old 11 Mar 2024, 04:27 (Ref:4200773)   #68
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The Walcott link with Quint and therefore Liberty was removed a while back.
Liberty Media controls Quintevents. Not sure what the relevance of Walcott is to Liberty.

Walcott is in the mix with RACE/V8 Supercars ownership as best I understand: Supercars confirms that the Rogers family has recently concluded the sale of their shareholding in RACE at a material premium. Shareholders were duly informed of this development earlier this year.

'The Rogers shares have been sold to an international investor, Walcot LLC, that has joined the RACE ownership group effective immediately.
Supercars confirms that the Rogers family has recently concluded the sale of their shareholding in RACE at a material premium. Shareholders were duly informed of this development earlier this year.

'The Rogers shares have been sold to an international investor, Walcot LLC, that has joined the RACE ownership group effective immediately.'



https://www.motorsinside.com/en/f1/n...ved-in-f1.html
Le 30/01, 18:42

'Liberty Media has acquired over 90% of Quint for $313 million, approximately 288 million euros. The transaction was initially concluded in September and has been finalized at the beginning of 2024. The company will be assigned to Liberty Media's Formula One group, and Formula 1 and Quint will continue to operate as separate entities.'

Last edited by cavvy; 11 Mar 2024 at 04:48. Reason: added additional info
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Old 1 Apr 2024, 10:05 (Ref:4203489)   #69
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Liberty Media Buys MotoGP

Will Liberty have time for V8Supercar..?
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Old 1 Apr 2024, 19:16 (Ref:4203543)   #70
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Well seeing that CVC weren't allowed to own both I would expect, in fairness, the same to apply to Liberty so they can move for SuperCars.
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Old 2 Apr 2024, 08:05 (Ref:4203569)   #71
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Well seeing that CVC weren't allowed to own both I would expect, in fairness, the same to apply to Liberty so they can move for SuperCars.
Bridgepoint were allowed to purchase World Superbikes whilst owning Dorna and then put WSBK under Dorna control alongside MotoGP

If that was allowed, I don’t see why having F1 and MotoGP under the same roof would be an issue

Ironically Liberty will have far more control of MotoGP than they do F1
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Old 2 Apr 2024, 08:28 (Ref:4203571)   #72
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Liberty Media Buys MotoGP

Will Liberty have time for V8Supercar..?
I’ll repeat again.Walcott no longer has any connection to Liberty.
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Old 2 Apr 2024, 08:56 (Ref:4203573)   #73
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Bridgepoint were allowed to purchase World Superbikes whilst owning Dorna and then put WSBK under Dorna control alongside MotoGP

If that was allowed, I don’t see why having F1 and MotoGP under the same roof would be an issue

Ironically Liberty will have far more control of MotoGP than they do F1
CVC were forced to sell Dorna by the EU as part of buying F1 as it was deemed a conflict of interest. They reckon times have changed now.
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Old 3 Jun 2024, 00:00 (Ref:4211602)   #74
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Interesting article in todays Aus on extra capital for the current owners before the next TV deal.
Seems RACE financials dropped last week.

Sorry cant link article.
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Old 4 Jun 2024, 00:15 (Ref:4211707)   #75
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Interesting article in todays Aus on extra capital for the current owners before the next TV deal.
Seems RACE financials dropped last week.

Sorry cant link article.
The speedcafe story about said article (do they do any original content story these days?) mentions existing investors chucking in more money…..


Is Supercars a business or a passion project?
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