500 million euro deal?
Marketer earthquake looming in the World Rally Championship?
According to insiders, the marketer of the World Rally Championship could have a new owner!
The shareholders of the racing series, above all the Austrian energy drink group Red Bull, are sounding out a sale of the Munich-based WRC Promoter GmbH and have commissioned the US investment bank JPMorgan to do so, several people familiar with the plans told the news agency Reuters.
Rally series could become more global and expand into the USA
The German company expects an operating profit (EBITDA) of more than 20 million euros in the current year. An insider said that under new ownership - such as a financial investor or larger sports investors - the rally series could become more global and expand into the USA, for example.
The current owners are hoping for sales proceeds of 500 million euros, according to financial circles. They want to capitalize on the increased valuations for sports rights marketers. In the spring, the Spanish company Dorna Sports, the organizer of the motorcycle and superbike world championships, was sold to the owner of Formula 1, Liberty Media, for a valuation of 4.2 billion euros. Dorna Sports was previously owned by the British financial investor Bridgepoint and the Canadian pension fund CPPIB.
The World Rally Championship consists of 13 races this year - from Finland to Chile and Japan. The most famous race is the Monte Carlo Rally. Belgian driver Thierry Neuville in a Hyundai is currently leading the standings ahead of eight-time world champion Sebastien Ogier from France (Toyota).
WRC Promoter is consolidated with Red Bull
In addition to Red Bull, WRC Promoter is backed by an investment vehicle of sports entrepreneurs Thomas Krohne and Karl Wieseneder, KW25, which also holds 50 percent of the shares. However, the company is consolidated with Red Bull. Since 2022, WRC has also organized the World Rallycross Championship and the European Rally Championship.
Krohne was President of the German Volleyball Association (DVV) from 2012 to 2018 and later sat on the Supervisory Board of Werder Bremen. He owns the American football club Munich Ravens, which plays in the European League of Football (ELF), in which Krohne is also a shareholder.
JPMorgan, Red Bull and WRC Promoter initially declined to comment on the information. Krohne could not be reached for comment.
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