Parella Motorsports Acquires Racing America, Creating North America’s Largest Integrated Grassroots Motorsports Platform

NEW YORK--(BUSINESS WIRE)--Dec 10, 2025--

Parella Motorsports Holdings and SpeedTour™ (collectively, “the Company”), the leading owner and operator of grassroots motorsports events in the United States, today announced the acquisition of Racing America, a premier digital-first motorsports media platform delivering live streaming, original content, and year-round coverage of amateur and stock car-adjacent racing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251210382959/en/

The acquisition unites one of the largest live-event portfolios in grassroots motorsports with the industry’s leading digital content and distribution platform — creating the most expansive, fully integrated motorsports media and events network in North America. The combined business will operate under the Racing America brand and will be headquartered in Charlotte, North Carolina. The combined company’s promotional video is available for viewing here.

Advancing a Unified Motorsports Platform

Velocity Capital Management, an operationally intensive private equity firm with deep expertise in sports, media, and entertainment, acquired the Company in December 2023. Under Velocity’s ownership, the Company has grown through strategic acquisitions, including MotorsportsReg.com, the industry’s leading registration and fan-engagement platform, and International GT, a classic-car racing series for late-model Porsche and Ferrari vehicles. The Racing America acquisition marks the Company’s third strategic acquisition under Velocity’s ownership. Velocity’s strategic partner, the Texas Permanent School Fund Corporation, was instrumental in originating the opportunity to acquire Racing America through its long-standing relationship with its ownership group and continues to provide both capital and industry insight to accelerate the Company’s growth.

“This acquisition marks a defining moment in our evolution and the next chapter for grassroots racing in this country,” said Lee Giannone, CEO of the newly formed Racing America. “By combining our national live-events platform with Racing America’s digital capabilities, we’re creating the foundation for the future of motorsports — one that connects fans and competitors year-round, expands global reach, and positions Racing America as the definitive home for grassroots and professional racing alike.”

Delivering a Fully Integrated Fan Experience

With Racing America’s digital production and streaming capabilities layered onto the Company’s nationwide live-event footprint — including the Trans Am Series presented by Pirelli, Sportscar Vintage Racing Association, Formula Regional Americas Championship, Formula 4 United States Championship, Ligier Junior Formula Championship, and International GT — the combined organization becomes the industry’s largest single source of live racing, original content, and behind-the-scenes access.

“This marks a new era for Racing America as we expand from a digital media platform into a fully connected motorsports network,” said Colin Smith, President of Racing America. “With Velocity Capital Management’s support, we will broaden our content and technology offerings, stream more live events, and deliver the rich storylines that motorsports fans want to see.”

Accelerating Growth and Expanding Accessibility

“Racing America is uniquely positioned to accelerate fan interest and participation in grassroots and amateur motorsports,” said Erin Edwards, Partner at Velocity Capital Management. “Our goal is to make grassroots racing accessible to everyone while providing passionate fans with more ways to engage with the sport they already love.”

As part of the transaction, Jeffrey Wolf, Velocity Operating Partner and former media executive at E.W. Scripps and Sony Pictures, will become Chairman of the Board.

“Transforming the Company from an events business into a broader motorsports entertainment platform is central to our growth strategy,” Wolf said. “Today’s fans expect compelling storytelling, premium production, and behind-the-scenes access. With Racing America, we can deliver all of that — and more.”

What’s Next for Racing America

Following the acquisition, the Company will transition to operate exclusively under the Racing America brand. The unified platform will feature:

Terms of the transaction were not disclosed.

Racing America’s 2026 season kicks off at Sebring International Raceway on February 26, 2026.

About Parella Motorsports Holdings

Parella Motorsports Holdings (PMH) owns several major road racing series including Sportscar Vintage Racing Association (SVRA), the Trans Am Series presented by Pirelli, Formula Regional Americas (FR Americas), Formula 4 United States Championship (F4 U.S.), Ligier Junior Formula Championship (Ligier JFC), and International GT (IGT). PMH hosts SpeedTour™ motorsports festivals across legendary U.S. circuits including Indianapolis Motor Speedway, Circuit of the Americas, and WeatherTech Raceway Laguna Seca. More information is available at SpeedTour.net and MotorsportReg.com.

About Racing America

Racing America is a digital-centric motorsports media and services platform previously owned by Race Team Alliance member teams, the 16 charter-holding organizations that operate 36 NASCAR Cup Series teams. Racing America produces and distributes over 250 live racing events annually and serves as a central media hub for the NASCAR and grassroots community. The company also operates RacerJobs.com and maintains strategic partnerships with Racing America OnSI (Sports Illustrated), TobyChristie.com, and RacerTravel.com.

About Velocity Capital Management

Velocity Capital Management is an operationally intensive lower-middle-market private equity firm focused on the sports, media, and entertainment (“SME”) ecosystem. The firm’s focus spans various domains within the sports sector, including media rights, sports technology, location-based entertainment, and fan engagement platforms. Velocity’s leadership has nearly 90 years of institutional investment, C-suite, and ownership experience allowing them to leverage relationships and expertise to transform companies, and unlock growth, efficiency, and exceptional value across SME. Velocity’s current portfolio includes Elevate Sports Ventures, Unique Sports Group, Racing America, Videocites, X Games, and Camp. For more information, please visit www.velocitycm.com.

Parella Motorsports Acquires Racing America, Creating North America’s Largest Integrated Grassroots Motorsports Platform

LISBON, Portugal (AP) — A strike called by Portugal’s two main trade union confederations brought severe travel disruption Thursday and forced the cancellation of many medical appointments and school classes. Government and municipal services, including trash collection, were also badly hit.

The two labor groups representing close to a million Portuguese workers say it could be the country’s biggest walkout in more than 10 years as they contest the center-right government’s planned changes to employment laws.

The unions say the changes strip workers of entitlements, while the government argues they are needed to make the economy more supple and spur growth.

The proposed changes include making it easier for companies to fire workers, denying the right to strike in additional sectors of the economy and limiting breastfeeding breaks for mothers to the first two years of a baby’s life from the current open-ended dispensation.

Downtown Lisbon was strikingly quiet, with few pedestrians and light traffic compared to a usual weekday in the capital as some people went on strike and others worked from home to avoid the transport disruption.

At Lisbon international airport, dozens of flights were canceled as pilots, flight attendants and baggage handlers walked out. The airport was open but largely deserted.

Flag carrier TAP Air Portugal operated only 63 of its 283 scheduled flights, in line with the minimum level of service required by law. The airline had previously warned passengers about the strike and offered to put them on other flights.

Train and bus services across Portugal also ran a skeleton service. The Lisbon Metro subway said services were suspended at 11 p.m. Wednesday and would resume only on Friday morning.

Private companies were also affected, with manufacturing and distribution companies reporting walkouts. Some Lisbon stores were closed.

It was the first time since 2013 that the umbrella groups — the General Workers’ Union and the General Confederation of Portuguese Workers — have joined forces.

The government’s Minister for the Cabinet, António Leitão Amaro, said the strike had little impact on the private sector. “Most Portuguese are at work,” he said.

But unions, which staged street marches in the afternoon, pronounced the strike a success.

“We are seeing workers demand that the government withdraw this labor (reform) package,” Tiago Oliveira, head of the General Confederation of Portuguese Workers, said. The strike "says a lot about the government’s attack and this is the response of the workers.”

Portugal has one of the European Union’s smallest economies and its workers are among the lowest paid in the 27-nation bloc. The average monthly wage is around 1,600 euros ($1,870) before tax, according to the National Statistics Institute. The minimum monthly wage earned by hundreds of thousands of workers is 870 euros ($1,018) before tax.

The Portuguese are also being pinched by a housing and cost of living crisis, as property prices soar and inflation sticks at just over 2%.

The European Commission expects Portugal to achieve GDP growth of around 2% this year, above the EU average of 1.4%. Unemployment stands at under 6%, roughly the EU average.

Social Democrat Prime Minister Luis Montenegro has described the strike as “senseless” because the country is doing well.

Helena Alves and Armando Franca in Lisbon, Portugal, contributed to this report.

Demonstrators gather outside the parliament during a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, Thursday, Dec. 11, 2025. The sign held by the woman reads in Portuguese: "Down with precarious living conditions." (AP Photo/Armando Franca)

Demonstrators gather outside the parliament during a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, Thursday, Dec. 11, 2025. (AP Photo/Armando Franca)

Demonstrators gather outside the parliament during a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, Thursday, Dec. 11, 2025. The sentence on the billboard was amended to read "prison for whom robs the people" (AP Photo/Armando Franca)

Demonstrators gather outside the parliament during a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, Thursday, Dec. 11, 2025. (AP Photo/Armando Franca)

Demonstrators use the light from their cell phones as they gather outside the parliament during a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, Thursday, Dec. 11, 2025. (AP Photo/Armando Franca)

City buses are photographed in a parking lot, during a general strike to protest against a new labour package announced by the centre-right government, in Oeiras, outside Lisbon, Thursday, Dec. 11, 2025. (AP Photo/Armando Franca)

An employee walks alongside passenger trains parked at Campolide station, during a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, Thursday, Dec. 11, 2025. (AP Photo/Armando Franca)

Trucks sit idle at a garbage processing center in Lisbon at the start of a general strike on Wednesday night, Dec. 10, 2025, held to protest a new labor package announced by Portugal's center-right government. (AP Photo/Ana Brigida)

A screen shows departing flights, many cancelled, at Lisbon Airport, at the start of a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, early Thursday, Dec. 11, 2025. (AP Photo/Ana Brigida)

A woman walks through a nearly deserted hall of the Lisbon airport at the start of a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, early Thursday, Dec. 11, 2025. (AP Photo/Ana Brigida)

Striking workers block the entrance to warehouses of the Portuguese postal services company stopping trucks leaving, at the start of a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, Wednesday night, Dec. 10, 2025. (AP Photo/Ana Brigida)

A police officer negotiates with striking workers blocking the movement of trucks at the gate to warehouses of the Portuguese postal services company, at the start of a general strike to protest against a new labour package announced by the centre-right government, in Lisbon, early Thursday, Dec. 11, 2025. (AP Photo/Ana Brigida)