Rogers sell Supercars stake to overseas investor

A statement issued by Supercars this evening states:

“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.

“Walcot LLC has links to Liberty Media, the owners of the Formula One Group.

“Supercars extends its gratitude to the Rogers family for their valuable contributions during their tenure.”

The link to Liberty Media is believed to be through QuintEvents, the latter of which was bought out by the former at the start of this year.

QuintEvents founder and CEO Brian Learst is believed to be behind Walcott LLC, but is thought to no longer have an ongoing involvement with QuintEvents.

The Rogers had been foundation investors in RACE, which bought Supercars from Archer Capital and the teams in late-2021, and owned a stake of around 15 percent.

Despite the departure of John McMellan from the board in February 2023, and rumours in August 2023 regarding a potential Shahin purchase, Barry Rogers remained steadfast at the time that they would not be selling up.

The McMellan development was noteworthy because both he and Rogers are shareholders in the Australian Racing Group, with his exit leaving no figures aligned with Rogers/ARG on the board.

Rogers had been a proponent of the so-called ‘whole of motorsport’ approach which could have seen Supercars and ARG combined for a programme of events but never came to pass.

Tensions were heightened in mid-2022 when it came to light that RACE had rejected a European takeover offer, but still the Rogers retained their stake.

That they have sold at “a material premium” is noteworthy given it suggests ongoing investor interest in RACE despite a $2.7 million loss in the 2022 calendar year.

The 2024 Repco Supercars Championship continues with the Melbourne SuperSprint at Albert Park on March 21-24.