News
Tony Parella Acquires Controlling Stake In Trans Am
August 8, 2017
Tony Parella, by way of Parella Motorsports Holdings, has reached an agreement to purchase the Trans Am Race Company (TARC) stakes previously held by Mike Miller. Miller will depart the TARC ownership group effective immediately.
Tony Parella Acquires Controlling Stake In Trans Am

The Trans Am Race Company, LLC (TARC) has announced Tony Parella, by way of Parella Motorsports Holdings, has acquired a controlling interest in the TARC ownership group.

Parella reached an agreement to purchase the stake previously held by Mike Miller, who departs the ownership group that presents the Trans Am Series presented by Pirelli.  

Through his additional investment, Parella now controls the majority of TARC shares while David Jans, John Clagett and Simon Gregg retain minority ownership stakes.

Parella originally joined the ownership group in July 2016. In June of this year, he acquired—along with Mike Miller and David Jans—the company shares held by Jim Derhaag. Parella later purchased Millers' shares this month.

“Since joining the ownership group last year Tony has consistently expressed a desire to take Trans Am to the next level,” said John Clagett, President of The Trans Am Race Company. “Tony’s enthusiasm and love for our sport are 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.”  

The Trans Am Series presented by Pirelli will take to the track next at Mid-Ohio Sports Car Course for Round 7 of the 2017 Trans Am Championship on Saturday, August 12, 2017, for the First Energy Muscle Car Challenge and the First Energy Trans Am 100 alongside NASCAR Xfinity’s Mid-Ohio Challenge.