Motorsport brands and related events to Motorsport Network will be sold.

Motorsport Network is a specialist online US motor racing content and events company.

Haymarket's motorsport portfolio includes Autosport, Autosport.com, the Autosport Awards, F1 Racing (both UK and international editions), Motorsport News, LAT, and the Autosport International Show.

Kevin Costello, chief executive officer at the Haymarket Media Group, said: “Motor racing has formed part of the Haymarket portfolio for almost half a century and the company has nurtured these businesses from their origins to be global category leaders. However, we are reassured that the Motorsport Network are the right people to be custodians of these businesses for the next stage of their investment and development.”

70 Haymarket employees are expected to move to the portfolio's new owners.

Zak Brown, chairman of Motorsport Network, said: “This milestone in acquiring the businesses that Haymarket has grown over decades will be recognised by everyone in the industry as a mark of our intent. All that is best about Autosport and its sister businesses will be preserved. Supported with investment and aligned with our dynamic organisational culture and high-speed growth that is attracting younger demographics to motorsport, the fusion of these two organisations presents tantalising opportunities for our staff and our clients alike. This acquisition is part of a broader consolidation strategy and is aligned with a series of significant changes we’re witnessing across the motorsport landscape.”