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Motorsport
Motorsport
Sport
Andrew van Leeuwen

Overseas takeover bid rejected by Supercars

Supercars Barclay Nettlefold

The Australian newspaper is reporting that the RACE board has turned down a buy-out offer that would have delivered up to a 20 per cent return on investment to shareholders after just nine months.

According to the report the potential buyer was European-based sports media outfit FanTech, which offered to buy out the shareholders, take on a reported $45 million worth of debt and meet the payment obligations to the teams.

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