Major Shareholder in World Superbike Wants Out

John P Burns
by John P Burns
Confirming rumors which have been circulating in both financial and racing circles for the past several months, the company which holds a major stake in World Superbike is for sale.

The resulting financial uncertainty, on top of fan displeasure at recent WSB decisions which have resulted in essentially a one-make series, and competition from the 4-stroke MotoGP Championship which has stolen the biggest stars and much of the WSB fan base, raise serious questions about the future of World Superbike racing.

Britain's MCN reports that Interpublic, the worlds second largest advertising company, has retained an investment banking firm to find a buyer for Octogan Motorsports, the motorsports subsidiary that owns the major stake in SBK International. Octogon also owns the British Superbike Championship and 5 racetracks in the UK.

Octagon Motorsports reportedly lost £38million in the first nine months of 2002.

Interpublic purchased Octagon in 1999 for a reported £120million but just wrote off £100million to reflect the anticipated loss in market value, implying that they hope to realize £43.6million from the sale.

To see the MCN article, CLICK HERE
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