New ownership structure for top Holden Supercars squad
Betty Klimenko has sold 50 per cent of one of the Racing Entitlements Contracts that underpins the Erebus Motorsport Supercars squad to team CEO Barry Ryan.
Ryan will take a half ownership stake in the REC used to enter Anton De Pasquale's #99 car, the buy-in coming a little over a year after he was made CEO following a stint as general manager.
The deal was agreed to in March, before becoming official this week.
"I am happy to announce Barry as my new partner and co-owner of car #99," Klimenko said.
"I am proud of what Barry and I have achieved in Supercars over the past three-and-a-half years. We are stronger and wiser together and I couldn’t think of a better partner.
"We had to wait for some paperwork to be finalised, but he’s now truly joined the dark side.
"We both believe in the direction we are heading, and it was always part of the long-term plan."
Ryan added: “It’s a huge leap of faith for Betty to trust and have faith in me investing into being a 50 per cent shareholder in one of her RECs.
“Betty has been a proud sole owner of her RECs for her whole time in Supercars and I am honoured that she has asked me to be her partner. It enables me to cement myself in the Erebus Motorsport business and Supercars for the long term.
“My day-to-day does not change, I have always treated Betty’s business like my own.
“This does, though, put a whole new perspective on knowing I have 'skin in the game' to ensure Erebus Motorsport and Supercars are stable and working on the long-term plan.”
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