SEGG Media has announced a significant move to bolster its presence in the world of motorsport by signing a Letter of Intent to acquire the assets of Racing Women Limited.
Through its subsidiary, Sports.com Media Group, the company will acquire all assets, including intellectual property and global rights, of the organization dedicated to advancing opportunities for female drivers.
The agreement will establish a new entity valued at $1 million, in which Sports.com Media will hold a 51% controlling stake, with an option to expand to full ownership in the future.
This strategic acquisition is designed to position the Sports.com brand at the forefront of women’s motorsport, leveraging the Racing Women platform to cultivate emerging talent and engage with a global audience.
The deal follows the successful Sports.com Nations Trophy at Donington Park, which featured eight talented Racing Women competitors from seven different countries.
Matthew McGahan, Chairman, President & CEO of SEGG Media, stated that the acquisition underlines the company’s confidence in the Racing Women platform and the exceptional talent it fosters.
Graeme Glew, Founder of Racing Women Limited, expressed his excitement, noting that when he founded the precursor, Formula Woman, 24 years ago, the world was not fully ready. He added:
“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.”
