GMF Capital (GMF), the family office of Gary Fegel, has acquired Motorsport Network Media, a digital media platform in the motorsport and automotive sectors.
Miami-headquartered Motorsport Network Media (MSNM) operates through 50 motorsport racing and automotive digital properties including Motorsport.com, Autosport, Motorsport-Total.com, GPOne, Motor1.com and InsideEVs.com.
Across all its brands, MSNM has more than 40 million monthly users and an active social media community of more than 15 million followers. According to MSNM, it is the world’s largest independent motorsport racing and automotive media platform.
The transaction also includes the Motorsport Network brand name, as well as Motorsport.tv, a video platform for live and on demand streaming; and the Autosport Awards, a motorsport racing annual awards ceremony.
“Today’s announcement marks the next exciting chapter for Motorsport Network and our leading media business,” said James Allen, the president of the Motorsport Network. “We have had significant acquisition interest in our media assets over the years but found in GMF Capital a buyer that truly values what we have built and shares our vision for the future. The media franchise has continued strong performance, and we believe it will thrive under GMF Capital’s direction.”
Over the past 10 years, GMF has invested more than $5.5 billion primarily in the areas of private equity, real estate, and alternative investments. The acquisition of MSMN is GMF’s first investment in the sports, automotive, and media category.
“We are excited to acquire Motorsport Network Media’s impressive, world-class portfolio of media assets, which are primed for significant growth with the surging popularity of motorsport, particularly Formula 1, in the United States and internationally,” said Gary Fegel, the founder and principal of GMF Capital. “We will leverage the brands’ market-leading position across the motorsport and automotive industries and push the business to the center of fandom. Our acquisition will allow the business to aggressively pursue new growth opportunities, which will benefit employees, advertisers, partners, and tens of millions of users worldwide.”
GMF Capital was founded by Mr. Fegel in 2013 as a single-family office to invest capital on behalf of himself, his family and like-minded investors. Prior to founding the firm, Mr. Fegel was a senior partner at Glencore, a Swiss-based commodity trading and mining company. GMF has offices in New York City and near Zurich in Wollerau, Switzerland.
© 2023 Private Equity Professional | June 30, 2023
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- Source: https://peprofessional.com/blog/2023/06/29/drivers-start-your-engines-gmf-buys-motorsport-network-media/
