Liberty Media has taken a minority investment in Meyer Shank Racing, it was announced on Friday.
The investment, attributed to the Formula One Group, will go towards the growth of the Ohio-based team’s motorsports operations, including its recently announced Acura DPi program and likely two-car NTT IndyCar Series effort in 2021.
MSR co-owner Jim Meyer is currently the CEO of SiriusXM, which is majority owned by Liberty.
“We have worked to build our IMSA and IndyCar racing programs step by step and this is another big progression for our organization to have Liberty Media make an equity investment in MSR,” said team co-owner Mike Shank.
“Everything that we do is built on the partnerships that we’ve developed, and this program is no different. The investment by Liberty Media will enable us to continue to build and develop our programs.”
The team recently broke ground on a new 43,000 sq. ft. headquarters in Pataskala, Ohio on Wednesday.