V8 SuperTourers CEO Leads Buyout in Ownership Change

New Zealand’s premier racing category, ampoule V8 SuperTourers announced a new ownership structure which sees current CEO, health Ray Noonan, lead a buyout from the founding shareholders.

Noonan and David Sutherland make up the new owners and the two have other business interests together including Cogent Limited.

Noonan said: “The new owners bring a significant capital base which will overcome the on-going issues with cashflow and allow the organisation to focus on its core business – the development of motor racing in New Zealand.

“Dave and I have worked together for the last decade and I know that his marketing brain together with his governance experience will become an asset to both V8 SuperTourers and to motorsport in general.”

The sums of the deal were undisclosed but Noonan said existing trade creditors would be paid.