News
Northridge acts on acquisition of Tech3 MotoGP team
Northridge acted for IKON Capital on (i) the acquisition (through a joint-venture entity, Podium Motorsport Investments UK Limited (Podium)) of the Tech3 MotoGP team, with Guenther Steiner (the former Haas F1 Team Principal) coming in as CEO of Tech3; and (ii) the structuring of and investment into the purchasing entity, Podium.
IKON Capital acted as one of the lead investors alongside a group of other investors, with the investor group including market-leading names in sport such as Bolt Ventures and Main Street Advisors.
This deal comes at a significant time for MotoGP as a sport, with Liberty Media Corporation (the owner of F1) having acquired the MotoGP Championship last summer.
The Northridge team included Ian Lynam, Philippa Scott, Anna Corderoy and Lucinda Bayley. Joffe & Associés acted for IKON Capital on French law matters.
