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Spire Motorsports has purchased Kyle Busch Motorsports and Rowdy Manufacturing for a ‘seven-figure’ fee.
Confirmed:
- Total sum of deal ‘was into the seven figures’, according to Sports Business Journal (SBJ)
- Rowdy Manufacturing assets include a chassis building operation and CNC machine shop
- Transaction also includes 77,000-square-foot facility in Mooresville, North Carolina
Context:
Kyle Busch’s eponymous Truck Series team was founded in 2010 and has gone on to hold the record for most wins in the series (100) and most wins in a single season (14 in 2014). Busch is a two-time champion in the Nascar Cup Series moved to Richard Childress Racing this season after his successful 15-year stint with Joe Gibbs Racing.
Comment:
Kyle Busch said: “When we started the Truck Series team back in 2010, I never imagined that we would be able to win 100 races with 18 different drivers and that one day I’d be racing in the Cup Series alongside so many of the drivers that I once mentored at KBM. I owe a lot of gratitude to so many people, starting with Samantha and my family for believing in this dream that I had. It took countless hours by so many amazing people to make KBM the winningest team in Truck Series history. I will always appreciate everyone that walked through the doors and gave their all to make this such a successful organisation.
“Not only has it been the people that were employed here, but it’s also the families that supported them while they worked long hours and travelled on the weekend sacrificing time at home and missing family events. And I certainly can’t say enough thanks to Toyota for the first 13 years of support and to Chevrolet for stepping up to the plate this year. Due to their commitment and that of our great sponsors, we’ve been able to compete at the highest levels and hang a lot of banners.”
Coming next:
Spire Motorsports are continuing an aggressive expansion plan that has included the signing of a multi-year partnership with Gainbridge, which has existing deals with Formula One’s Miami Grand Prix and Andretti Autosport in IndyCar, and purchasing a charter for approximately US$40 million, according to SBJ, from Live Fast Motorsports to field a third car in 2024.