New York, June 28, 2023 – GMF Capital (GMF), a leading private investment firm and family office for Gary Fegel, announced today that it has completed the acquisition of Motorsport Network Media LLC (MSNM), a global digital media platform in the motorsport and automotive industries. The terms of the acquisition involve GMF Media, an affiliate of GMF Capital, acquiring the controlling majority stake in MSNM, with an option to purchase the remaining minority interest at a later date.
MSNM is recognized as the world’s largest independent motorsport and automotive media platform, boasting over 40 million monthly users and more than 15 million followers on social media. Under GMF’s control, the acquisition includes nearly 50 flagship motorsport and automotive digital properties such as Motorsport.com, Autosport, Motorsport-Total, GPOne, Motor1.com, and InsideEVs.com. Additionally, the deal encompasses the Motorsport Network brand name, Motorsport.tv (a leading video platform for live and on-demand streaming), and the Autosport Awards (the world’s premier motorsport racing annual awards ceremony).
Gary Fegel, the Founder and Principal of GMF Capital, expressed excitement regarding the acquisition: “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 U.S. and internationally. 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.”
This acquisition marks GMF’s first foray into the sports, automotive, and media category. Since its establishment in 2013, GMF Capital and its affiliates have invested over $5.5 billion primarily in private equity, real estate, and alternative investments.
The President of Motorsport Network, James Allen, expressed confidence in the future of the media business: “Today’s announcement marks the next exciting chapter for Motorsport Network and our leading media business. 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.”
About GMF Capital:
GMF Capital was established in 2013 by Gary Fegel as a single-family office to invest capital on behalf of himself, his family, and like-minded investors. With offices in New York City and Switzerland, GMF Capital and its affiliates have invested over $5.5 billion primarily in private equity, real estate, and alternative investments. Before founding GMF Capital, Fegel served as a Senior Partner at Glencore Plc, one of the world’s largest commodity trading and mining companies.
For more information about GMF Capital, please visit www.gmfcapital.com.
Advisors:
Legal counsel to GMF Capital: Arnold & Porter Kaye Scholer LLP
Legal counsel to Motorsport Network LLC: Snell & Wilmer LLP
Media Contacts:
For GMF Capital:
info@gmfcapital.com
zach.groen@finnpartners.com
For Motorsport Network:
mediarelations@motorsport.com