MIAMI, May 26, 2015 /PRNewswire/ -- Motorsport.com LLC announced today that it has received an investment from Team China Racing for a joint venture to provide online motorsports content, video and interactive multimedia in Asia.
As part of the joint venture, Motorsport.com will launch Motorsport.com-CHINA, an all-Chinese based sister motor sports website which will cover all major racing series, including Formula 1, World Endurance Championship, MotoGP, World Rally Championship, FIA Formula E, NASCAR, and World Touring Car Championships.
"This joint venture brings us one step closer in our aggressive business strategy of diversification and global expansion into 14 countries in 10 native languages in 2015," said Charles Bradley, editor in chief, Motorsport.com. "Our international footprint, including our formal affiliation with F1 and the Grand Prix Drivers Association (gpda.motorsport.com), makes sense for both parties.
"We looked at several business partners and believe Team China offers the greatest knowledge and understanding of our business plan for us as we enter new markets in Asia."
Team China Racing was founded in 2004 and authorized by the Ministry of Sports of China to compete in A1GP, Superleague Formula, FIA GT1 and currently competes in the all-electric racing series, FIA Formula E Championship.
"Our entry into China will position Motorsport.com as the go-to source for the most comprehensive motor racing content in the world," Bradley added. "There is a significant business opportunity for the Motorsport.com brand in China and I'm delighted to announce this formidable partnership."
According to the agreement, Motorsport.com LLC will own 51 percent and Team China will own the remaining 49 percent interest in the joint venture. The creation of the joint venture is subject to the satisfaction of certain closing conditions, including the approval of relevant government authorities in China.
"Motorsport.com is the world leader in motorsport and automotive content," said Steven Lu, CEO of Team China Racing. "Our partnership is a groundbreaking event for race fans and auto enthusiasts in China who will now be able to experience in native tongue Motorsport.com's industry-leading content, led by their Editor in Chief Charles Bradley and his team."
The joint venture brings together two highly complimentary companies that continues to expand Motorsport.com's worldwide global footprint and delivery of online motor sports news content and digital media platforms, including 360-degree broadcasting technology from its sister company 360racing.com.
One of the fastest growing motor sports websites in the world, Motorsport.com is a technically advanced digital distribution platform, which provides worldwide, multimedia motor sports coverage resulting in over 180 countries this year.
This new business will begin operations in July 2015.
Founded in 1994, Motorsport.com is an international network of online motorsports content, multi-national platforms, world-class digital distribution, video and interactive multimedia worldwide. Powered by passion and fueled by award-winning, cutting-edge technology, Our One Team, One World approach to motorsports content is staffed 24 hours, seven days a week and is updated continuously throughout the day. Headquartered in Miami, Florida, and in bureaus around the world, our 2015 global expansion will include entries in 14 countries in 10 different languages.
About Team China Racing
Team China Racing started as one of 28 teams in A1GP World Cup of Motorsport in 2004 with fully support from Chinese Ministry of Sports and Federation of Automobile of China. The team competed in various international motor racing series including A1GP, Superleague Formula, FIA GT1 and most recently FIA Formula E Championship. Team China also promoted and organized all these racing series in Beijing, Shanghai, Chengdu, Zhuhai and Ordos in China since 2005 (including 3 street circuits), successfully helped development of Chinese motorsport in the last decade.