Report: Supercars in US$39m sale talks with Shahin brothers

Peregrine Corporation backers previously tried to buy Australian touring car series in 2021.

Australian touring car racing series Supercars Championship could be acquired by Sam and Yasser Shahin, who are said to be in talks over a possible takeover, according to Wide World of Sports.

(Un)confirmed:

  • Shahins previously tried to acquire Supercars when it was put on the market in 2021
  • Brothers recently sold the South Australian petrol station and convenience store chain OTR Group for AUS$1.2 billion (US$779.9 million) to Viva Energy
  • Wide World of Sports reports the 2021 deal was worth AUS$60 million (US$39 million)

Context:

Supercars was acquired in 2021 by the Racing Australia Consolidated Enterprises (RACE) consortium,  which is headed by investment firm Henslow, QMS APAC chief executive Barclays Nettlefold, and the Australian Racing Group. In that context, Wide World of Sports reports that the bid comes as a surprise, with RACE having given no suggestion it would look to sell. Both Shahin brothers compete regularly in Australian motorsport events such as the Porsche Carrera Cup and GT World Challenge Australia respectively. They are also behind the Peregrine Corporation, which is one of South Australia’s biggest private companies and also owns two motorsport tracks within the state.

Coming next:

The report comes ahead of the next Supercars round, which starts on 19th August. It is to take place at the Bend Motorsport Park, one of the tracks owned by the Peregrine Corporation.

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