![]() This potentially means introducing driving schools or eventually building its own branded stock cars that would be available for short tracks to purchase. But the new funds provide the opportunity to begin exploring extensions of its overall business strategy. While several startup sports leagues have floundered after three years of existence, SRX is bullish on its trajectory, as more sophisticated investors come into the fold and more high-profile stars get behind the wheel.ĭespite the cash injection, CEO Don Hawk says SRX is slated to run this year’s race operations on a similar budget as last year. ![]() The single-entity promotion has already broken even on its original investment in large part due to low capital costs, with innovations such as delivering its own cars to drivers, and having venues pay the company to host the short track races. SRX has created a unique business model that features former champions competing in equally prepared cars that leave little room for competitive advantage. Inner Circle Sports served as the exclusive advisor for this latest funding round, according to a source familiar with the deal. The racing startup, which made its debut in 2021, was founded by Stewart, Pyne-the former COO of NASCAR-Hall of Fame crew chief Ray Evernham and Montag Group CEO Sandy Montag. ![]() Chase Elliott and Ryan Blaney are among other active Cup drivers who have competed in an SRX race. 18 Toyota for 15 years in NASCAR, will join another former champion in Kevin Harvick. Two-time NASCAR Cup Series champion Kyle Busch is one of the new drivers who have inked deals to compete this season. Busch, who drove the M&M-sponsored No. Not only is SRX entering its third season with more growth capital, but it is also upgrading its driver sheet. SRX Racing Partners With BODYARMOR For Blaney Father And Son Race At Sharon Speedway. We’ve got money now to invest in the business outside of the racetrack. Bobby Labonte Wins Camping World SRX Series Race 4 At Nashville. “We’ve got a lot of momentum going into the third year, with an enhanced product. Other investors in SRX include Bruin Capital's George Pyne and The Montag Group's Sandy Montag.“We have new investors, new drivers, new tracks and a new network,” Bruin Capital CEO and SRX co-founder George Pyne said in a video interview. SRX last year averaged just over 1 million viewers on CBS, and it was able to break even financially after selling out five of the six races it held. Series CEO Don Hawk indicated that SRX received interest from 42 different tracks who were looking to host a race in ’23, and that they whittled it down to six by prioritizing “historic tracks that have had success hosting big-time events.” He also told SBJ that he has received an uptick in interest from drivers in NASCAR and Ind圜ar who are interested in competing next year because SRX is switching to Thursdays, which works better with their schedules since NASCAR and Ind圜ar always race on the weekend. The trip to Berlin Raceway will mark SRX’s first time at a venue in Michigan. The only other returning track aside from Stafford is Ohio's Eldora Speedway, owned by series investor Tony Stewart. The following weekend will see SRX go the furthest north it has ever ventured with a new stop at Thunder Road Speedbowl in Vermont, a track founded by NASCAR HOFer Ken Squier. The track is about an hour from ESPN’s Bristol HQ and that event will likely feature a heavy attendance from network execs. SRX will start 2023 off by returning to Stafford Motor Speedway in Connecticut on ESPN on Thursday, July 13 at 9:00pm ET. It is also switching to competing on Thursday nights after previously running on Saturdays with CBS the first two years. For the third straight year since its founding, the short-track series will compete over six consecutive weekends in the summer, though this is the first time it finalized a schedule early enough to release it the year before the campaign starts. SRX this morning will release its 2023 schedule which will include four new venues plus a return to a Connecticut track located near the campus of new media-rights partner ESPN.
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