Parella acquires controlling stake in Trans Am ownership group

Series stakeholder Tony Parella has taken a controlling interest in The Trans Am Race Company, LLC (TARC) through Parella Motorsports Holdings after purchasing the shares owned by Mike Miller. TARC minority owners John Clagett, Simon Gregg and David Jans remain in their current roles.

"Since joining the ownership group last year Tony has consistently expressed a desire to take Trans Am to the next level," said TARC president Clagett. "Tony's enthusiasm and love for our sport is unquestionable, and I look forward to working with him as we continue to build the Trans Am brand and competition platform to improve on the progress we've made since the creation of The Trans Am Race Company in 2012."

Along with his prospering Sportscar Vintage Racing Association series, Parella (pictured) has brought an infusion of energy and growth to the proud Trans Am name since his initial involvement.

"The Trans Am brand still holds a lot of the luster of its colorful history dating back over 50 years to the days of greats like Parnelli Jones and Dan Gurney," he said. "To me that says there is a lot of untapped equity we can leverage to grow sponsorship investment and attract an avid fan base. Motorsports enthusiasts are looking for alternatives that deliver affordable authentic racing, a variety of cars, and meaningful access. I want to further exercise the tremendous synergies we have already seen with our other major Parella Motorsports Holdings company, the Sportscar Vintage Racing Association. Stay tuned for a bright future."

The outgoing Miller praised Parella's influence and efforts to point Trans Am in the right direction.

"Tony Parella is the right guy at the right time for where we are today with the Trans Am Series presented by Pirelli," he said the departing Miller. "When I look at what he has accomplished in four short years with the SVRA, I know he understands the formula. Triple-digit annual revenue growth, a steady influx of premium brand sponsors and the emergence of vintage racing as a serious and affordable entertainment alternative for fans is simply amazing. I see a bright future for Trans Am with Tony as the primary owner."