WRC Promoter could be sold off by the end of 2024, it has been reported. (Massimo Bettiol/Getty Images)

The World Rally Championship’s commercial rights-holding vehicle is being put up for sale by its owners, according to reports.

WRC Promoter GmbH, currently owned (jointly) by Austrian energy drink conglomerate Red Bull and German investment firm KW 25, could be sold by the end of this year, Reuters has reported.

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That site has claimed, citing sources familiar with the matter, that those two firms are now working with the JP Morgan US financial institution around a sale of WRC Promoter, and that a valuation of up to $550 million is being sought.

None of the parties mentioned in the report have yet commented.

WRC Promoter currently handles all commercial aspects of the motor racing series, including media rights sales, broadcast production, and sponsorship tie-ups.

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In early June, it announced a 10-year deal through which Saudi Arabia will be added to the race calendar from 2025.

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The deal will lead to the WRC’s return to the Middle East for the first time since the 2011 Jordan Rally.

The current WRC race calendar comprises 13 four-day events on different continents.

For the last two years, WRC Promoter has also handled rights for both the European Championship and the Rallycross Championship.

In terms of recent valuations of other motorsport properties, US media giant Liberty acquired Dorna Sports, the commercial rights holder and organizer of motorcycling’s premier MotoGP series, for a deal valued at over €4 billion ($4.3 billion), earlier this year.

The transaction reflects an enterprise value for MotoGP of €4.2 billion and an equity value of €3.5 billion with the existing debt balance at MotoGP expected to remain in place after close. Liberty agreed the deal with Bridgepoint, the UK-based private equity firm and largest shareholder in Dorna.

The acquisition is expected to be completed by year-end 2024.

Liberty Media is also the owner of motor racing’s iconic Formula 1 series, meanwhile.