Prodrive boss and Ford Performance Racing co-owner David Richards is set to make the shock announcement that he has sold the remainder of his shareholding in the Ford Performance Racing team.
While the deal is unexpected, according to many insiders, the news will ensure the factory squad’s long-term future, which had been under a cloud amid ongoing uncertainty over the financial health of parent company Prodrive.
A public announcement is expected on Monday, and it is understood that Richards’ remaining 49% shareholding has been acquired by racing figures Rod Nash and Rusty French.
Nash already owns the #55 Bottle-O backed Racing Entitlements Contract that has been run under the FPR banner for the last three years, while French has a long history in business and motorsport.
The latest sale comes in the wake of Ford Australia’s purchase of 51 per cent of Richards’ stake in Ford’s performance car division, Ford Performance Vehicles, in August – this led to speculation as to whether Prodrive would continue its four-year-long ownership of FPR.
No figure from Prodrive or Ford Performance Racing has yet commented at the time we went to press.