Motorsport Network hires Efremov as group CEO for next growth phase
Motorsport Network, the USA-based digital media company dedicated to motorsport, has appointed a new group chief executive officer.
Yavor Efremov, a lawyer and former investment professional with experience in motor racing management, will be joining the organisation in the role, and as a shareholder.
The post of group chief executive is a new one so he will not be replacing anyone.
In a statement announcing the appointment, Motorsport Network said the creation of the post "heralds the next phrase in the growth and development of Motorsport Network.... by guiding the organisation's relationship with the corporate and financial sectors."
Efremov’s last role was as a senior vice-president at Liberty Media, the company that now owns Formula 1. Efremov was apparently part of the team that saw an opportunity in the sport, and was also involved in raising $1.55 billion in equity capital and negotiating the sport's acquisition from private equity firm CVC Capital Partners.
In his new role Efremov, who has also worked for Goldman Sachs, will be based in Miami and London.
He said today: “I have been tracking Motorsport Network’s progression for some time and I have been consistently impressed with the rate of growth, swiftly followed by the product and service innovation that marked out the company as one at the vanguard of its domain.”
Motorsport Network provides a platform for news and analysis, images, statistics, apparel and clothing, awards and jobs in the motorsport industry. The company was formed in 2015, and since then has acquired Haymarket Media Group’s motor racing portfolio, interests in the Formula E series, several video archives, and various ticketing agencies.