Motorsport Tickets signs binding term sheet to acquire ESC, “Official Hospitality Partner of FIA World Rally Championship,” to expand its offerings of corporate hospitality and VIP packages for rally events.
Miami, 10 June 2021: Motorsport Network, LLC has entered into a binding term sheet to acquire European Sport Communication (“ESC”), which will expand its Motorsport Tickets division with VIP packages for rallying. Motorsport Tickets is the one-stop destination for the ultimate range of event tickets, travel packages, and exclusive experiences for motorsport fans.
European Sport Communication was created in 1999 by Bernard Occelli, winner of the FIA World Rally Championship in 1994, as co-driver to Didier Auriol. ESC offers unforgettable experiences by bringing guests to privileged viewing spots at breath-taking locations including thrilling helicopter flights and gourmet stops. The range of services includes customized VIP hospitality solutions, ‘inside experiences,’ and exclusive perspectives on the sport with incomparable excitement.
As the “Official Hospitality Partner of the FIA World Rally Championship,” ESC has close relationships with Hyundai Shell Mobis World Rally Team, TOYOTA GAZOO Racing World Rally Team, Citroën Racing, Peugeot Sport, Michelin, Wolf Lubrications, and many more.
The ESC business will complement the range of products offered by Motorsport Tickets today, including Formula 1, MotoGP, World Endurance Championship, 24 Hours of Le Mans, NASCAR, DTM, and Isle of Man TT, and will allow Motorsport Tickets to expand its business-to-business offerings, such as Corporate Hospitality Programs and VIP Packages.
As the world comes out of the COVID-19 pandemic and attendance at live motorsport events resumes, this pending acquisition presents a timely opportunity for Motorsport Tickets to expand into the area of rally sport.
Founder and CEO of ESC, Bernard Occelli, will remain with the company to oversee the merger and assist in elevating Motorsport Tickets as a premier destination for the purchase of tickets and VIP experiences to motorsport events.
Oliver Ciesla, Chief Operating Officer at Motorsport Network: “Knowing Bernard and his colleagues for many years, I am very happy about this deal, and I am looking forward to the partnership between ESC and Motorsport Network. With our global organization and marketing opportunities, we can give ESC's business a boost in the next years to help them partner with more events and further increase their offering. Along with this, our existing Motorsport Tickets offerings, bringing fans and corporate clients to races and other motorsport events, will strongly benefit from ESC's expertise, contacts, and know-how.”
Bernard Occelli, Founder and CEO of European Sport Communication: “After more than 20 years of strong and continuous growth, it is exciting for us to become part of a much larger organization and we are proud to have gained the interest of a fast-growing global player like Motorsport Network. Our activities complement each other perfectly and our longstanding and trusted relationship provides a solid base and ideal conditions to join forces. Through our shared passion for motorsport and our common business strengths, both sides will swiftly benefit from synergies allowing for the pursuit of bigger business opportunities.”
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About Motorsport Network
Every month over 56 million dedicated users visit a Motorsport Network digital property, to buy, to learn, to be entertained, or simply to feed their passion for cars and racing. We sit at the heart of the Racing and Automotive industries and provide authoritative thought leadership as well as unique experiences to our customers. We take them on a customer journey that encompasses news and insights, events, tickets, games, and eSports, so we leverage the network effect to add value to their experience. We use our in-house technology and modern data tools to continuously test, learn, and improve. Our processes, content creation, and products are constantly evolving to better serve our audience.
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FORWARD-LOOKING AND OTHER CAUTIONARY STATEMENTS
While the pending transaction is expected to close by December 31, 2021, it remains subject to execution of definitive documentation and satisfaction of customary closing conditions. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Network, LLC (the “Company”) and are difficult to predict. Accordingly, the Company does not assume responsibility for the accuracy or completeness of any forward-looking statement and readers should not rely on any forward-looking statements as predictions of future events. The forward-looking statements in this press release include, without limitation, the Company’s beliefs, expectations and/or estimates about the following: (i) the Company’s belief that the ESC business will complement the range of products offered by Motorsport Tickets; (ii) the Company’s belief that this pending acquisition presents a timely opportunity for Motorsport Tickets to expand into the area of rally sport; (iii) the Company’s plans to have Mr. Occelli remain with the Company to oversee the merger and assist in elevating Motorsport Tickets as a premier destination for the purchase of tickets and VIP experiences to motorsport events; (iv) the Company’s expectations that with this pending acquisition, the Company’s existing Motorsport Tickets offerings will strongly benefit from ESC's expertise, contacts, and know-how; (v) the Company’s belief that it and ESC will swiftly benefit from synergies, allowing for the pursuit of bigger business opportunities; and (vi) the Company’s plans to execute definitive documentation and close the acquisition by December 31, 2021. The Company's actual results may differ materially from such forward-looking statements for a number of reasons, including, without limitation, risks and uncertainties relating to: (i) less than expected benefits from the pending acquisition, such as due to the Company's business experiencing greater than anticipated disruptions due to the ongoing and prolonged COVID-19 pandemic and its related uncertainty or other related factors which may make it more difficult for the Company to maintain relationships with its customers, vendors, business partners and/or other unanticipated circumstances, trends or events affecting the Company's overall financial performance, including decreased consumer spending in response to the COVID-19 pandemic and its related conditions and restrictions or any weakness in the motorsport industry; (ii) less than expected benefits from the Company’s expansion into rally sport, such as due to greater than expected customer reluctance to return to racing venues as a result of the ongoing and prolonged COVID-19 pandemic or less than expected consumer spending as a result of economic conditions, such as due to any increase in inflation or growth in unemployment; (iii) difficulties or delays in achieving the Company’s plans to elevate Motorsport Tickets as a premier destination for the purchase of tickets and VIP experiences to motorsport events, such as due to higher than anticipated costs to achieve such growth, in whole or in part; (iv) less than anticipated benefits from ESC's expertise, contacts, and know-how, such as due to higher than anticipated costs and expenses to realize such benefits; (v) less than expected synergies from the pending acquisition, such as due to the Company’s inability to successfully manage and integrate the new business and its related services, personnel and/or technologies; and/or (vi) difficulties with, delays in and/or the Company’s inability to complete, in whole or in part, the closing of the pending acquisition. Factors other than those referred to above could also cause the Company’s results to differ materially from expected results. The Company anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. The Company assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing the Company’s plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, the Company’s websites or any other websites referenced or linked to this press release shall not be incorporated by reference into this press release.