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SUPERCARS CONFIRM TWO RECS TENDERED FOR 2022 ENTRY

MEDIA RELEASE/Supercars – Photo: Velocity Magazine

Supercars has confirmed two Racing Entitlements Contracts (RECs) will be tendered for entry for the 2022 season.

As in 2020, there will be 24 cars on the grid for the 2021 Repco Supercars Championship.

Beyond this, Supercars is obliged to tender two further RECs for sale, with a current deadline to complete any such sale by 30 June 2021.

Supercars retains broad discretion as to how the tender may be run, however past have involved a two-week “expression of interest” period, a four-week due diligence period, a week for assessment of bids and a week for execution of legal documentation with any successful bidders.

Key aspects of any assessment of bids may include, whether the financial resources of the bidder are sufficient to operate a REC, whether the bidder has sufficient experience and knowledge of the category, and whether the bidder is of good character and is able to add to the reputation of the category.

There was significant movement for in the off-season, with Tim Blanchard setting up his own team.

Tickford Racing has downscaled to three cars ahead of the upcoming season.

Brad Jones Racing will run a four-car operation, having purchased Phil Munday’s REC to replace Tim Blanchard’s and again running Peter Smith’s entry.

As is the case every year, at the end of this season all RECs, including any RECs purchased in the tender, must be entered for the next season.

The 2021 Repco Supercars Championship will commence at the Repco Mt Panorama 500.

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