SEGG Media to acquire Racing Women
Sports.com Media signs Letter of Intent to expand investment in women’s motorsports.
Key points:
– Sports.com Media signed a Letter of Intent to acquire all assets of Racing Women Limited
– The deal gives Sports.com Media a 51% controlling stake in a new entity valued at $1m
– The agreement includes intellectual property and global rights, with an option for full ownership
SEGG Media announced that its subsidiary Sports.com Media Group has signed a Letter of Intent to acquire the assets of Racing Women Limited, an organisation focused on advancing opportunities for female drivers in motorsport.
The agreement provides Sports.com Media with the rights to Racing Women and establishes a new entity in which the company will hold a 51% controlling stake, based on a $1m valuation.
The deal includes Racing Women’s intellectual property and global rights, with an option to expand to full ownership.
Matthew McGahan, Chairman, President & CEO of SEGG Media, said: “This acquisition underlines our confidence in the Racing Women platform and the extraordinary talent it is cultivating. By bringing Racing Women into the SEGG family, we are not only securing shareholder value but also positioning the Sports.com brand at the forefront of women’s motorsport worldwide.”
The decision comes after the Sports.com Nations Trophy at Donington Park, where eight Racing Women competitors from seven countries participated.
Good to know: SEGG Media has launched Sports.com Studios, a new regional hub for sports content in LatAm. Its first series, “Maximo Futbol,” will debut on 30 September
Graeme Glew, Founder of Racing Women, said, “Having championed women’s entry into the world of motorsport since 2003, this is the best news we’ve had in a long time. When I founded Formula Woman 24 years ago, the world wasn’t quite ready for young women to take their place on the grid.
“Today, with women’s empowerment and STEM initiatives driving change across motorsport, Sports.com is the perfect partner for Racing Women to accelerate growth and inspire engagement with women worldwide. I couldn’t be more excited.”
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