Meteor Motorsport have confirmed previous rumours that the team has been sold with immediate effect. Pennsylvania Friedman Group has finally confirmed the acquisition of Meteor Motorsport. The team will remain named Meteor Motorsport but will be a 100% subsidiary of Friedman. Richard Peluso is to join the team as its director of FV racing and will also serve as team owner and principal with immediate effect. John Maynard will become the Chief Technology Officer of the team. The deal has not publicly stated the value of the team.
"It is my strong conviction that FV racing transmits values which are entirely in line with our brand motion: heritage, design, craftsmanship, performance and exclusivity," says team owner Peluso. "Moreover we expect that Friedman Group will seriously benefit from the FV technology that we now have in-house. I am so proud of our team that worked around the clock to make this deal happen. The news means that Kazuki Armos will bow out as team owner. "I am proud to be leaving the team in a much better state than it was when we acquired it 24 months ago," he said. "Not only is it more financially stable, it is aiming to become more competitive at the track, and has won one race. The creation of next car is well underway, as are major upgrades to the wind tunnel facility. Investment into the team's technical development has continued unabated throughout the season. At the moment, Formula V is a much more mature and understood sport in America than it is in France. I believe the new owners will be well placed to exploit the commercial and nationalistic aspects of an American identity, and this is something that can only benefit the team. My Meteor CEO and COO left the decision entirely up to me, since the know how important it is for me to see the team not only survive, but succeed. With this in mind, the new owners have demonstrated their ambitious plans to take the team forward to the next phase of its rebuilding programme. New Meteor, headed by Richard Peluso, consists of a strong group of investors with the resources, planning and capacity to further develop the team. I am confident that under their leadership, the future of the team rests in good hands, and I would not have agreed to this sale under any other circumstances." It is anticipated that Meteor are to announce an exclusive energy partnership
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