The Lynch Racing Co., a division of Sport Venture Group, today acquired Iowa City Capital Partners’ stake in the Monster Energy NASCAR Cup Series Team BK Racing which was owned and controlled by Anthony Marlowe.
Sport Venture Group (SVG) is a sport investment and holding company founded by a multigenerational family office to invest, hold and manage its various multisport interests. Sport Venture Group launched The Lynch Racing Co. to pursue the acquisition of a stake in a Monster Energy NASCAR Cup Series Team.
“We are wholly owned by a family office with a heritage in sport, shares the passion of fans and have a vision for the future of sport. The Lynch Racing Co. was formed by Sport Venture Group to pursue the family’s heritage around motorsport and NASCAR,” said Anthony Gebbia, CEO of Sport Venture Group.
“We’d like to thank both Anthony Marlowe and Ron Devine in assisting us with this process. We look forward to working with Ron (Devine) going forward to enhance the value of the charter(s),” said Ron Konersmann, Chairman of Sport Venture Group.
“After four seasons as a minority owner in NASCAR’s Premier Series, I have decided to harvest my investment. It has been a wild ride; I wouldn’t change a minute. I am thankful to Ron and Brenda Devine. Regardless of whether BK Racing ever wins a Cup race one day, they are worthy of my appreciation. It takes great courage to make the investment the Devine’s have made regarding time and money. Not to mention saving my backside from a sudden change in the direction of Swan Racing early in the 2014 season.” said Anthony Marlowe. “Further, Sport Venture Group has a tremendous opportunity to build upon BK Racing’s six consecutive full-time seasons. SVG and The Lynch Racing Co. know the risks involved, but also bring fresh ideas and relationships that could be massively accretive to their investment and team.”
“We excited for Sport Venture Group to join our ownership team and look forward to working with them going forward,” said Ron Devine of BK Racing
About The Lynch Racing Co.
The Lynch Racing Co., a division of Sport Venture Group, was launched to pursue the acquisition of a stake in a Monster Energy NASCAR Cup Series Team in 2017. The company honors its ownership’s heritage around motorsport and NASCAR. More info is available at http://the.lynchracing.co.
About Sport Venture Group
Sport Venture Group (SVG) is a sport investment and holding company founded by a multigenerational family office to invest, hold and manage its various multisport interests. We are driven by our heritage as investors, our passion as fans and our vision as to the future of sport. The company, from time to time, also advises key clients in the global sport space on Strategy, M&A, Commercial Partnerships and the like. More info is available at http://www.sportventuregroup.com.
About Iowa City Capital Partners
Iowa City Capital Partners, LC is the private office for American businessman and Entrepreneur Anthony Marlowe. More info is available http://iowacitycapitalpartners.com
About BK Racing
BK Racing is a Monster Energy NASCAR Cup Series Toyota Racing team headquartered in Charlotte, North Carolina. The team was founded in 2012 after owners Ron Devine and Wayne Press acquired Red Bull Racing. BK Racing’s staff of highly skilled mechanics and engineers field the No. 23 & 83 entries in the Monster Energy NASCAR Cup Series as a Toyota Racing team. The 2017 season was BK Racing’s 6th consecutive full-time season in the Monster Energy NASCAR Cup Series. The team’s roster of sponsor partners includes Dr. Pepper/Snapple Group, Dustless Blasting, Best Home Furnishings, Lipman Produce, Anest Iwata, and Toyota Motor Company. More info is available at http:// www.bkracingteam.com.
Disclosure: Not a Broker-Dealer. We do not raise money for third parties and do not refer third parties to any funding sources.
Sport Venture Group (“Company” or “Investor”) is neither a registered representative under the Financial Industry Regulatory Authority (“FINRA”), a member of FINRA or associated or affiliated with any member of FINRA, nor a broker-dealer registered with the SEC under the Exchange Act or engaged in a business that would require it to be so registered, nor is it an Affiliate of a such a broker-dealer or any Person engaged in a business that would require it to be registered as a broker-dealer. In the event such Investor is a member of FINRA, or associated or Affiliated with a member of FINRA, such Investor agrees, if requested by FINRA, to sign a lock-up, the form of which shall be satisfactory to FINRA with respect to the Securities.
TIL NEXT TIME, I AM STILL WORKING ON MY REDNECK!