Parella Motorsports Holdings expands for 2024 following Velocity Capital acquisition
With a newly-announced investment from Velocity Capital Management, Parella Motorsports Holdings (PMH) is planning for growth in 2024 with additional SpeedTour events added to the calendar, new race series set to launch, substantial growth plans for existing series, and new partnerships and alliances to expose new participants and audiences to SpeedTour.
“I’ve been seeking the right partner to help me realize my vision for Parella Motorsports Holdings, and I am thrilled to be collaborating with the Velocity team,” said Tony Parella, who continues in the role of CEO for PMH. “I feel like we finally have the right recipe to achieve our true potential, and I’m excited to lead PMH through this next chapter of growth. With Velocity’s support, we have exactly what we need to grow both organically and through acquisitions. The 2024 season is going to be fun.”
“I’ve been seeking the right partner to help me realize my vision for Parella Motorsports Holdings, and I am thrilled to be collaborating with the Velocity team,” said Tony Parella, who continues in the role of CEO for PMH. “I feel like we finally have the right recipe to achieve our true potential, and I’m excited to lead PMH through this next chapter of growth. With Velocity’s support, we have exactly what we need to grow both organically and through acquisitions. The 2024 season is going to be fun.”
With its core race series, Sportscar Vintage Racing Association (SVRA), the Trans Am Series presented by Pirelli, Prototype Sprint Series Association presented by Hankook (PSSA), Formula Regional Americas Championship (FR Americas) and Formula 4 United States Championship (F4 U.S.), PMH unveiled a 24-event calendar for its SpeedTour brand. Events are set to span across 17 states and two countries, as SpeedTour makes its first international venture with a trip to Ontario’s Canadian Tire Motorsport Park.
Capitalizing on the popularity of its existing series and opportunities within the marketplace, PMH will launch a new race series in 2024, as well as reformat two recently-launched series to bring in additional participants.
With Trans Am’s Big Machine Vodka SPIKED Coolers TA2 Series flourishing with record car counts, the series has become widely recognized as a proving ground for young talent. With more and more drivers looking to join the series, PMH will launch TA2 Club in 2024 as a feeder series for drivers looking to gain more experience behind the wheel of these 530hp muscle cars before stepping up to the pro level in Trans Am’s Western and National Championships.
With the incorporation of the new Ligier JS F422 into the FIA-certified F4 U.S. competition, PMH will provide owners of the first-generation Ligier JS F4 chassis with a place to race in the newly-rebranded Ligier JS F4 Series. Available to drivers ages 14 and up, the Ligier JS F4 Series will provide an additional developmental step with an opportunity to gain experience and knowledge as drivers transition from karting to open-wheel racing.
Entering its sophomore season, PSSA gained international interest in 2023, with drivers traveling from around the world to compete in the sprint-format prototype races at some of America’s most iconic road courses. In 2024, the series will expand from eight to 12 events, while hosting both a PSSA East and PSSA West Championship — each offering a $10,000 prize to its champion. With expanded eligibility, a variety of Radical, Ligier, Revolution and Wolf prototypes will be able to participate on Hankook racing tires.
PMH will continue to fulfill its purpose of enabling racing dreams through various partnership and scholarship programs. Activating programs like the PMH Powering Diversity Scholarship, the Radford Racing School F4 U.S. Karts to Cars Scholarship, and scholarship-based championship prizes, the organization will continue to provide opportunities for drivers looking to take the next step in their motorsports career.
SpeedTour will kick off its 2024 schedule at Sebring International Raceway, February 22-25. Featuring racing from SVRA, Trans Am and International GT, the weekend will incorporate hundreds of additional cars through the Hagerty Cars & Caffeine Car Show and OPTIMA’s Search for the Ultimate Street Car.
2024 SpeedTour schedule:
Feb. 22-25: Sebring International Raceway
Mar. 1-3: Thunderhill Raceway Park
Mar. 8-10: Eagles Canyon Raceway
Mar. 21-24: Michelin Raceway Road Atlanta
Apr. 11-14: NOLA Motorsports Park
Apr. 18-21: Sonoma Raceway
Apr. 26-28: Mid-Ohio Sports Car Course
May 2-5: WeatherTech Raceway Laguna Seca
May 10-11: World Wide Technology Raceway
May 16-19: Road America
May 24-27: Lime Rock Park
June 7-9: Pittsburgh International Race Complex
June 13-16: Indianapolis Motor Speedway
June 20-23: Mid-Ohio Sports Car Course
June 28-30: Road America
July 19-20: Lime Rock Park
July 25-28: New Jersey Motorsports Park
July 26-28: Portland International Raceway
Aug. 16-18: Summit Point Motorsports Park
Aug. 21-25: Watkins Glen International
Aug. 29-Sep. 1: Canadian Tire Motorsport Park
Oct. 3-6: VIRginia International Raceway
Oct. 18-20: Spring Mountain Motorsports Ranch
Oct. 31-Nov. 3: Circuit of The Americas
For more information: www.racer.com
Mar. 1-3: Thunderhill Raceway Park
Mar. 8-10: Eagles Canyon Raceway
Mar. 21-24: Michelin Raceway Road Atlanta
Apr. 11-14: NOLA Motorsports Park
Apr. 18-21: Sonoma Raceway
Apr. 26-28: Mid-Ohio Sports Car Course
May 2-5: WeatherTech Raceway Laguna Seca
May 10-11: World Wide Technology Raceway
May 16-19: Road America
May 24-27: Lime Rock Park
June 7-9: Pittsburgh International Race Complex
June 13-16: Indianapolis Motor Speedway
June 20-23: Mid-Ohio Sports Car Course
June 28-30: Road America
July 19-20: Lime Rock Park
July 25-28: New Jersey Motorsports Park
July 26-28: Portland International Raceway
Aug. 16-18: Summit Point Motorsports Park
Aug. 21-25: Watkins Glen International
Aug. 29-Sep. 1: Canadian Tire Motorsport Park
Oct. 3-6: VIRginia International Raceway
Oct. 18-20: Spring Mountain Motorsports Ranch
Oct. 31-Nov. 3: Circuit of The Americas
For more information: www.racer.com
