Nordic seals $2million Bauer F3000 deal

FIA Formula 3000 Championship pacesetter Nordic Racing has secured a new deal with boutique international investment bank, The Bauer Partnership, worth $2million

Nordic seals $2million Bauer F3000 deal

The Norfolk-based team, which lies first and third in the series with Justin Wilson and Tomas Enge, will receive the backing through a proposed equity investment. This is an additional deal to its current big name sponsorship from Coca-Cola and the multinational energy giant Conoco.

The deal was signed last Saturday at Silverstone during round eight of the series, where runner-up Wilson increased his lead in the drivers' championship by four points.

"Bauer has seen what major sponsors Coca-Cola and Conoco have done with the team and this has driven them to invest in Nordic," said Mark Hope, managing director of Downforce Management, Nordic's commercial agent. "Bauer recognised that Formula 3000, and Nordic in particular, offers a compelling financial and commercial opportunity. The fact that a financial institution has invested in us gives Nordic additional credibility. It is a classic case of sporting success resulting in financial success."

Ronald Bauer, founder and CEO of The Bauer Partnership, added: "We were attracted to Nordic not only because of its current performance in the championship but also by the way in which its high profile sponsors have been activated by the team's management. Formula 3000 is truly an untapped marketplace at the moment and as a dynamic and growing sport suits Bauer's own aspirations. We will continue to look at other investment opportunities in F3000 and motorsport in general."

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