PORSCHE CARS AUSTRALIA STATEMENT RE SALE OF CUP CAR SHARES Porsche Cars Australia (PCA) expects Carrera Cup racing in Australia to continue to prosper with new opportunities following the signing of a Heads of Agreement between Cup Car...
PORSCHE CARS AUSTRALIA STATEMENT RE SALE OF CUP CAR SHARES
Porsche Cars Australia (PCA) expects Carrera Cup racing in Australia to continue to prosper with new opportunities following the signing of a Heads of Agreement between Cup Car Australia Pty Ltd and Sherrin Motorsport.
Cup Car Australia Pty Ltd was commissioned by Porsche Cars Australia in 2003 to be the Category Manager for Carrera Cup racing in Australia.
"Porsche Cars Australia is excited about the prospects of Carrera Cup racing if the Heads of Agreement eventuates into the sale of Cup Car shares to Sherrin Motorsport," says Porsche Cars Australia Managing Director, Michael Winkler.
"I expect the transfer of Cup Car shares to Sherrin Motorsport to be smooth and seamless. The share holders may change, but the running of Carrera Cup racing will not.
"Sherrin Motorsport has invested heavily into a diverse portfolio of motorsport operations and we look forward to working with a committed and enthusiastic new partner.
"In fact, this will be a great opportunity for PCA to work even closer with the new share holders to consolidate and continue the growth of our successful Porsche racing series.
"Cup Car directors Jamey Blaikie and Tony Quinn have done a terrific job working with PCA to get Carrera Cup racing to its current status, and with Sherrin Motorsport we look forward to maintaining the parallel relationship."
Michael Winkler is expected to continue his role on the Board of Directors of Cup Car Australia Pty Ltd.
Once the transfer of shares is completed in late November, present Cup Car CEO Jamey Blaikie will remain a full-time employee until December 31, 2006; from which time he will serve as a consultant until the 2007 series begins in Adelaide next March.