- Avenue Sports Fund acquires “significant minority stake”
- Trackhouse Racing has entered NASCAR and MotoGP in 2021 and 2024, respectively.
Trackhouse Entertainment Group has secured investment from Marc Lasry’s Avenue Sports Fund.
The sports fund, described as a “significant minority stake”, seeks to leverage the group’s interests in both Nascar and MotoGP.
Trackhouse Racing has competed in NASCAR since 2021 and expanded into MotoGP earlier this season as the series’ first U.S.-based team since 2007.
“we, Justin Marks “We look forward to working with his organization as it continues to aggressively pursue new motorsports opportunities in the NASCAR Cup Series, MotoGP Series and potentially in the future.” LasryChairman, CEO and Co-Founder of Avenue Capital.
“NASCAR has long held the position as America’s most popular racing series. North AmericaAdditionally, MotoGP is currently one of the most popular motorsports in the world, with millions of cumulative race attendances and a significant digital audience, all attractive factors for an investment by Avenue Sports.”
Trackhouse Racing founder Justin Marks sees the investment as an opportunity for the team to be more competitive in the market and on the track.
He said: “From the very beginning, Trackhouse’s core objective has been to build a valuable, diverse, global motorsport platform. Our partnership with Avenue marks a landmark step in the continued development and execution of that vision.”
“The addition of Trackhouse to Avenue’s portfolio will enable us to leverage the experience and expertise of one of the world’s leading sports funds to grow into one of the world’s most powerful motorsports companies with best-in-class on-track competitive advantages, partner services and race event experiential assets.”
According to BlackBook:
While there is clear growth potential for Trackhouse Racing in NASCAR, it’s unclear when a new charter deal will be signed with the series, so a broader investment may make more sense.
MotoGP is set to be acquired by Liberty Media by the end of the year, pending approval. The motorcycle racing series is expected to grow exponentially, and now is the time for investment funds to step in to maximise future revenues.
