Latest news with #VeloceMediaGroup
Yahoo
17-07-2025
- Business
- Yahoo
SEGG Media Shares Additional Details on Strategic Investment into Veloce Media Group
A Media Snippet accompanying this announcement is available by clicking on this link. FORT WORTH, Texas, July 17, 2025 (GLOBE NEWSWIRE) -- SEGG Media Corporation, formerly Inc, (NASDAQ: SEGG, LTRYW) ('SEGG Media' or the 'Company'), a leading technology company transforming the global intersection of sports, entertainment and gaming today releases additional details on its investment in Veloce Media Group. Coupled with the acquisition of Quadrant through Veloce, it marks one of the most consequential weeks in SEGG Media's expansion playbook. The Veloce investment is being managed through a division of SEGG Media. Quadrant Acquisition Ignites Exponential Growth Trajectory On July 12, 2025, Veloce Media Group finalized its acquisition of majority control in Quadrant, a creator-led content, motorsport and apparel brand co-founded by Formula 1 driver Lando Norris. The transaction strengthens Veloce's digital presence and extends control of Norris' license to Quadrant through to 2027. With Norris reinvesting as a significant shareholder, the Formula 1 star retained over 20% in Quadrant, as well as gaining equity in Veloce. Quadrant already boasts a strong cap table, with notable shareholders including McLaren Racing CEO Zak Brown. This complements the existing Veloce investor group featuring Animoca Brands, Darryl Eales (former CEO of Lloyds Development Capital), the UK Government Future Fund, and Adrian Newey, who acts as the leading visionary for Veloce's racing initiatives. SEGG Media's Timing and Investment Mechanics SEGG Media entered into a Subscription Agreement for $7.59 million, payable in two tranches, which will result in the Company having 12.4% ownership stake in Veloce. Proceeds from the initial tranche funded the Quadrant acquisition. Additionally, the Company entered into a Call Option Agreement which, when exercised, will allow the Company to reach 51% ownership of Veloce, resulting in Controlling Interest and financial reporting consolidation. Details of the transaction are outlined in a Form 8-K filed on July 16, 2025 which can be found at or Leadership Statements 'Between the Quadrant deal and our strategic investment in Veloce, SEGG Media has delivered a blockbuster week. We're aligning organic growth, roster-level talent like Lando Norris, and digital scale to build a dominant motorsport-media platform. With Veloce's content network and creative energy, powered by Quadrant's global reach, we're well-positioned for commercial acceleration across F1, IndyCar, NASCAR, and beyond.' 'Veloce's acquisition of Quadrant—and the vote of confidence from SEGG Media for 51%—validates our digital-first, fan-led approach. With this backing, we can scale the business and build deeper audience connections like never before.' What This Means for Investors and the Market Revenue Acceleration: Veloce's recent revenue growth is projected to continue. For the fiscal year ended June 2024, Veloce reported $17.5 million in revenue and $1.14 million in EBITDA. Celebrity and Brand Impact: Lando Norris joins as a major equity holder; notable group shareholders include Zak Brown, Adrian Newey, Animoca, Darryl Eales, and UK Future Fund. Massive Media Reach: Veloce boasts 55 million subscribers across its digital network and delivers 750 million monthly views – it now also inherits Quadrant's engaged motorsport community, multiplying commercial leverage. About SEGG Media CorporationSEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including and Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love. For additional information, visit or contact media relations at media@ Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company's strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words 'could,' 'should,' 'will,' 'may,' 'believe,' 'anticipate,' 'intend,' 'estimate,' 'expect,' 'project,' 'initiatives,' 'continue,' the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to: the Company's ability to secure additional capital resources; the Company's ability to continue as a going concern; the Company's ability to complete acquisitions; the Company's ability to remain in compliance with Nasdaq Listing Rules; and those additional risks and uncertainties discussed under the heading 'Risk Factors' in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC's website at Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. This press release was published by a CLEAR® Verified in to access your portfolio
Yahoo
17-07-2025
- Business
- Yahoo
SEGG Media Shares Additional Details on Strategic Investment into Veloce Media Group
A Media Snippet accompanying this announcement is available by clicking on this link. FORT WORTH, Texas, July 17, 2025 (GLOBE NEWSWIRE) -- SEGG Media Corporation, formerly Inc, (NASDAQ: SEGG, LTRYW) ('SEGG Media' or the 'Company'), a leading technology company transforming the global intersection of sports, entertainment and gaming today releases additional details on its investment in Veloce Media Group. Coupled with the acquisition of Quadrant through Veloce, it marks one of the most consequential weeks in SEGG Media's expansion playbook. The Veloce investment is being managed through a division of SEGG Media. Quadrant Acquisition Ignites Exponential Growth Trajectory On July 12, 2025, Veloce Media Group finalized its acquisition of majority control in Quadrant, a creator-led content, motorsport and apparel brand co-founded by Formula 1 driver Lando Norris. The transaction strengthens Veloce's digital presence and extends control of Norris' license to Quadrant through to 2027. With Norris reinvesting as a significant shareholder, the Formula 1 star retained over 20% in Quadrant, as well as gaining equity in Veloce. Quadrant already boasts a strong cap table, with notable shareholders including McLaren Racing CEO Zak Brown. This complements the existing Veloce investor group featuring Animoca Brands, Darryl Eales (former CEO of Lloyds Development Capital), the UK Government Future Fund, and Adrian Newey, who acts as the leading visionary for Veloce's racing initiatives. SEGG Media's Timing and Investment Mechanics SEGG Media entered into a Subscription Agreement for $7.59 million, payable in two tranches, which will result in the Company having 12.4% ownership stake in Veloce. Proceeds from the initial tranche funded the Quadrant acquisition. Additionally, the Company entered into a Call Option Agreement which, when exercised, will allow the Company to reach 51% ownership of Veloce, resulting in Controlling Interest and financial reporting consolidation. Details of the transaction are outlined in a Form 8-K filed on July 16, 2025 which can be found at or Leadership Statements 'Between the Quadrant deal and our strategic investment in Veloce, SEGG Media has delivered a blockbuster week. We're aligning organic growth, roster-level talent like Lando Norris, and digital scale to build a dominant motorsport-media platform. With Veloce's content network and creative energy, powered by Quadrant's global reach, we're well-positioned for commercial acceleration across F1, IndyCar, NASCAR, and beyond.' 'Veloce's acquisition of Quadrant—and the vote of confidence from SEGG Media for 51%—validates our digital-first, fan-led approach. With this backing, we can scale the business and build deeper audience connections like never before.' What This Means for Investors and the Market Revenue Acceleration: Veloce's recent revenue growth is projected to continue. For the fiscal year ended June 2024, Veloce reported $17.5 million in revenue and $1.14 million in EBITDA. Celebrity and Brand Impact: Lando Norris joins as a major equity holder; notable group shareholders include Zak Brown, Adrian Newey, Animoca, Darryl Eales, and UK Future Fund. Massive Media Reach: Veloce boasts 55 million subscribers across its digital network and delivers 750 million monthly views – it now also inherits Quadrant's engaged motorsport community, multiplying commercial leverage. About SEGG Media CorporationSEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including and Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love. For additional information, visit or contact media relations at media@ Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company's strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words 'could,' 'should,' 'will,' 'may,' 'believe,' 'anticipate,' 'intend,' 'estimate,' 'expect,' 'project,' 'initiatives,' 'continue,' the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to: the Company's ability to secure additional capital resources; the Company's ability to continue as a going concern; the Company's ability to complete acquisitions; the Company's ability to remain in compliance with Nasdaq Listing Rules; and those additional risks and uncertainties discussed under the heading 'Risk Factors' in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC's website at Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. This press release was published by a CLEAR® Verified in to access your portfolio
Associated Press
17-07-2025
- Business
- Associated Press
$53 Million Value Company Investment with Majority Acquisition Option, Plus New Stock CUSIP Supporting Brand Transition for of Sports, Game and Entertainment AI Powered, Fan Engagement Company: SEGG
$SEGG Also Engages $14 million Expansion Deal and Moves on $10 Million Acquisition of GXR World Sports Assets SEGG Media (Nasdaq: SEGG) is a global sports, entertainment and game group operating digital assets such as and other sites. Focused on immersive fan engagement, ethical game play and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love. The SEGG engaging mobile and online platforms enable players and commercial partners located in the U.S. and internationally to remotely purchase and play legally sanctioned games. Fans and subscribers look to SEGG for compelling, real-time results on more than 800 games from more than 40 countries. Additionally, through SEGG is fundamentally changing how non-profit donors are incentivized to action by gamifying charitable giving. The SEGG mission remains an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. The SEGG family of brands — including and is a unified ecosystem that integrates game play, entertainment and sports. Major Investment in Veloce Media Group to Accelerate Strategic Expansion in Esports, Motorsports and Immersive Digital Content On July 16th SEGG announced a strategic investment into Veloce Media Group, one of the fastest-scaling digital platforms operating at the intersection of sport, game play, and content. The investment forms part of a broader buy-and-build strategy to position SEGG as the home of immersive sports and next-generation media. The transaction, which values Veloce at £40 million ($53 million USD) pre-money, will be completed in two tranches, with a call option enabling SEGG to reach majority ownership at 51%. Veloce Media Group has built the world's largest racing and game media network with more than 750 million monthly digital views and reaching a rapidly growing Gen-Z and millennial audience. In its most recent fiscal year ended March 2025, Veloce reported £12.8 million ($17.5 million USD) in revenue. Veloce has strong forward momentum following July 2025 acquisition of Quadrant, a disruptive motorsport content and lifestyle brand co-founded with Formula 1 driver Lando Norris. To learn more visit: The investment from the SEGG is funding key strategic initiatives, including Veloce's acquisition of Quadrant, with £2 million ($2.6 million USD) committed in the first tranche. The remainder is scheduled for completion by end of July 2025. Matthew McGahan, Chairman & Chief Executive Officer of SEGG stated,'Since completing the turnaround of the Company, we identified two global sports verticals, motorsport and soccer, as cornerstones of our future strategy. This investment into Veloce is yet another tangible step into motorsport following the successful multi-race partnerships we secured with three rising stars in IndyCar and Indy NXT. 'Our internal production arm, Studios, is already developing original content formats that tap into this world and, now, with the energy and expertise of Veloce's young leadership, we're excited to explore that frontier together.' Jack Clarke, Chief Strategy Officer of Veloce Media Group said,'Veloce Media Group is uniquely positioned to engage a generation of digitally native sports fans. With SEGG Media's support, we are well placed to scale our media and competitive operations while continuing to innovate.' Corporate Transition with Planned CUSIP Number Change to Strengthen Shareholder Protections SEGG has announced new steps in its corporate transition with a CUSIP number change supporting its corporate rebrand. This action is designed to protect shareholders, strengthen market transparency and address ongoing concerns around illicit trading activity targeting the company. The upcoming CUSIP change is part of a broader effort to modernize the SEGG market identity and enhance protections against short selling practices that have negatively impacted its trading performance. For more information, reference the Form 8-K filed on July 7, 2025 available at or at SEGG Media and David Lloyd Announce $14M U.S. Expansion Deal On July 9th SEGG announced it signed a binding Letter of Intent ('LOI') with David Lloyd, one of the most iconic names in British and European sport and wellness. The terms of the LOI allows SEGG to acquire the rights to David Lloyd's All-Sports Arena in Boca Raton, FL at a $14 million valuation. The agreement marks the launch of the David Lloyd brand into the U.S. market. With additional facilities in development, All-Sports Arenas, designed by David Lloyd, are poised to become a dominant force in premium sports infrastructure worldwide. The model is fully scalable, with the potential to deliver high-margin returns through a unique blend of sport, wellness, community and entrepreneurship. David Lloyd's projections are that the Boca facility will deliver over $6 million in EBITDA for SEGG in its first year of operations. Closing in on Legal Action Against Coordinated 'Short and Distort' Campaign On June 27th SEGG confirmed that it is nearing legal proof of a coordinated and unlawful 'short and distort' campaign targeting the Company. In collaboration with its legal counsel, Paul Hastings LLP, SEGG is actively pursuing all individuals and entities engaged in market manipulation intended to damage the Company's share price and reputation. $10 Million Acquisition of GXR World Sports Assets to Power Global Launch of Super App On June 26th SEGG announced it is advancing its global expansion with the planned launch of the Super App (the 'Super App')—a first-of-its-kind digital destination for sports fans worldwide. The Super App is designed to combine live streaming, social engagement, e-commerce and game play into a single immersive ecosystem. The SEGG Super App, which is scheduled to launch in select global markets in Q3 2025, will initially focus on soccer and motorsport—two verticals has been aggressively expanding into through a series of high-profile sponsorships and strategic initiatives. The SEGG Super App will be built on an existing platform development by Galaxy Racer Holdings Limited ('GXR'), The GXR app has achieved more than one million monthly active subscribers organically, demonstrating significant early traction and category-defining potential. To accelerate the development timeline for the Super App, SEGG has signed a Letter of Intent (LOI) to acquire a 51% controlling interest in the sports and technology assets of GXR, valuing the transaction at $10 million pre-money. All GXR unencumbered assets, including its tech stack and user base, will be transferred to a new entity (NewCo), of which SEGG will initially own 51%. The agreement includes a call option to acquire 100% ownership of NewCo by the end of 2027. SEGG Media Expands Committed Financing with Generating Alpha to $300 Million On June 23rd SEGG announced an Amendment to its Stock Purchase Agreement with Generating Alpha Ltd., expanding the committed financing facility from $100 million to $300 million, while reducing the discount Generating Alpha receives saving the Company nearly $12 million over the life of the funding facility. For more information on $SEGG visit: DISCLAIMER: Disclosure listed on the CorporateAds website Media Contact Company Name: SEGG Media, Inc. (Nasdaq: SEGG, LTRYW) Contact Person: Matthew McGahan, Chairman and CEO Email: Send Email Phone: (737) 309-4500 City: FORT WORTH State: TEXAS Country: United States Website: Source: CAP, LLC
Yahoo
16-07-2025
- Business
- Yahoo
SEGG Media Invests in Veloce Media Group to Accelerate Strategic Expansion in Esports, Motorsports and Immersive Digital Content
A Media Snippet accompanying this announcement is available by clicking on this link. FORT WORTH, Texas, July 16, 2025 (GLOBE NEWSWIRE) -- SEGG Media Corporation, formerly Inc., (NASDAQ: SEGG, LTRYW) ('SEGG Media' or the 'Company'), a leading technology company transforming the global intersection of sports, entertainment and gaming today announced a strategic investment into Veloce Media Group ('Veloce'), one of the fastest-scaling digital platforms operating at the intersection of sport, gaming, and content. The partnership will be managed by a division of SEGG Media. The investment forms part of a broader buy-and-build strategy to position SEGG Media as the home of immersive sports and next-generation media. The transaction, which values Veloce at £40 million ($53 million USD) pre-money, will be completed in two tranches, with a call option enabling SEGG to reach majority ownership at 51%. This move reinforces SEGG Media's recent launch and the turnaround success of It signals a new phase of high-growth strategic acquisitions centered around profitability, scale, and exciting global fan engagement. A Cash-Generating, High-Growth Digital Asset Veloce Media Group has built the world's largest racing and gaming media network with more than 750 million monthly digital views and reaching a rapidly growing Gen-Z and millennial audience. In its most recent fiscal year ended March 2025, Veloce reported £12.8 million ($17.5 million USD) in revenue. Veloce has strong forward momentum following July 2025 acquisition of Quadrant, a disruptive motorsport content and lifestyle brand co-founded with Formula 1 driver Lando Norris. The Veloce Group operates across: Competitive esports and sim racing (F1 Esports, Ferrari Global Series) Immersive content and athlete-led platforms Sustainable racing initiatives including FIA Extreme H World Cup Creator-led brands, merchandise, and digital fan engagement The investment from the Company is funding key strategic initiatives, including Veloce's acquisition of Quadrant, with £2 million ($2.6 million USD) committed in the first tranche. The remainder is scheduled for completion by end of July 2025.'Since completing the turnaround of the Company, we identified two global sports verticals, motorsport and soccer, as cornerstones of our future strategy. This investment into Veloce is yet another tangible step into motorsport following the successful multi-race partnerships we secured with three rising stars in IndyCar and Indy NXT. 'With Veloce now in the family, we're doubling down. We see this as a continuation of our expansion into motorsports, a sector that offers scale, global fanbases, commercial viability, and media storytelling potential across all levels of competition. From F1, IndyCar, MotoGP, to NASCAR and beyond, SEGG Media is positioning the brand not just via sponsorship, but through content creation, team partnerships and immersive behind-the-scenes access. 'Our internal production arm, Studios, is already developing original content formats that tap into this world and, now, with the energy and expertise of Veloce's young leadership, we're excited to explore that frontier together.''Veloce Media Group is uniquely positioned to engage a generation of digitally native sports fans. With SEGG Media's support, we are well placed to scale our media and competitive operations while continuing to innovate.' , 'This investment marks a transformative opportunity for the region. Saudi Arabia is home to over 23 million gamers, representing nearly 70% of the population, and consistently ranks among the highest globally in daily gaming engagement. With major international events like Gamers8, the Esports World Cup and the upcoming Olympic Esports Games hosted in Riyadh, the Kingdom has rapidly become a global epicenter for esports and digital sport. 'Partnering with Veloce brings not only immersive content and commercial upside, but also connects the brand to one of the most digitally active youth populations in the world, positioning the brand at the heart of the fastest-growing sports entertainment economy on the planet.' Veloce Media Group is led by CEO Daniel Bailey and a seasoned board including: Andy Webb, Chairman and former CEO of the Marussia F1 Team Darryl Eales, former CEO of Lloyds Development Capital, who delivered £1.2 billion ($1.6 billion USD) in capital gains during his tenure'We're excited to partner with and SEGG Media, two brands that share our vision for next-gen sport. Together we can scale faster, deliver stronger fan experiences, and unlock significant commercial upside.' About Veloce Media Group Founded in 2018, Veloce Media Group is a multi-pillared gaming, motorsport, and lifestyle media business operating at the intersection of some of the world's fastest-growing and most future-focused industries. Headquartered in London, Veloce's ecosystem spans the industry-leading gaming and racing platform Veloce Esports, the upcoming hydrogen-powered FIA Extreme H World Cup team, Veloce Racing, and a vast digital media network boasting over 55 million subscribers and 750 million monthly views. In 2025, Veloce Media Group expanded its portfolio with the acquisition of Quadrant, the disruptive gaming, lifestyle, and motorsport brand co-founded by Formula 1 driver Lando Norris. Now encompassed in Veloce, Quadrant strengthens the group's cultural impact through bold storytelling, premium apparel, athlete-driven content, and a thriving global community. Veloce has partnered with several international brands and teams, including Mercedes-AMG, Ferrari, McLaren, Thrustmaster, VISA and many more. To learn more, please visit: About SEGG Media CorporationSEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including and Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love. Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company's strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words 'could,' 'should,' 'will,' 'may,' 'believe,' 'anticipate,' 'intend,' 'estimate,' 'expect,' 'project,' 'initiatives,' 'continue,' the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to: the Company's ability to secure additional capital resources; the Company's ability to continue as a going concern; the Company's ability to complete acquisitions; the Company's ability to remain in compliance with Nasdaq Listing Rules; and those additional risks and uncertainties discussed under the heading 'Risk Factors' in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC's website at Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. This press release was published by a CLEAR® Verified individual. CONTACT: For additional information, visit or contact media relations at media@ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Daily Mirror
16-07-2025
- Automotive
- Daily Mirror
McLaren's Lando Norris makes deal with Adrian Newey-backed group as CEO makes statement
Recent British Grand Prix winner Lando Norris has sold a huge chunk of his side business, Quadrant, with Adrian Newey's Veloce Media Group releasing a statement following the investment McLaren driver Lando Norris has sold a majority stake in his gaming and lifestyle brand Quadrant to Veloce Media Group, which is backed by legendary Formula One car designer Adrian Newey. Norris founded Quadrant in 2020 with the aim of combining eSports, content creation and apparel. The racing star has now sold a significant share of the business to Veloce, the world's largest digital racing media network, after recently revealing a rebrand. The investment will see Norris retain more than a 20 per cent stake in Quadrant, meaning he will remain its second-largest shareholder, while his name and brand will continue to be licensed to the company. Veloce and Quadrant have been working together since Norris launched the brand during the pandemic. And with its growing presence and a reported £12.8million in annual revenue last year, Veloce has now acquired a stake to further its expansion in the motorsport sector, having already held shares in the company prior to the deal. Newey, one of the most successful engineers in F1 history, is the lead visionary at Veloce alongside his son, Harrison. The race car designer is well into his fifth trophy-laden decade, having won 12 World Constructors' Championship titles between 1991 and 2024 for Williams, McLaren, and Red Bull Racing. The 66-year-old is currently the managing technical partner and a shareholder at Aston Martin F1, having joined the team in February 2025 from Red Bull with the aim of leading their 2026 car project. Norris and his father, Adam, were previously the largest shareholders in Quadrant through their company, Celero Promotions. Other investors included McLaren F1 CEO Zak Brown and Norris' manager, Mark Berryman, through his Add Management firm. Daniel Bailey, Veloce Media Group's CEO, said in a statement: 'I'm thrilled to welcome Quadrant to the ever-growing Veloce family. The business has been a fantastic success story; disrupting the motorsport content and apparel space, whilst growing a loyal and passionate fan base along the way. 'Quadrant's creativity, originality and flair for compelling content align perfectly with our mission; I'm excited to see it turbo-charged with further Veloce support, facilitating continued and exponential growth.' Quadrant's latest financial reports showed losses, with a negative total equity of £405,221 for the 2023 fiscal year, following the closure of a seven-figure investment round in January 2024.
