Goodyear “in advanced discussions” on Avon motorsport tyre asset sale

Following the news that Avon’s ex-motorsport head has formed the Nova Motorsport tyre brand, Goodyear has confirmed to Tyres & Accessories that its Cooper Europe operation is “in advanced discussions” relating to the sale of certain Avon motorsport tyre assets.

However, Goodyear didn’t confirm whether Nova Motorsport was the specific third party in question. Nevertheless, the talks do relate to “the manufacturing and sale of certain motorsport tyres under the names ‘Avon Motorsport’ and ‘Avon Racing’”.

In answer to Tyres & Accessories’ questions, a Goodyear spokesperson commented:

“Cooper Tire & Rubber Co. Europe Ltd (CTE) is engaged in advanced discussions with a third-party company on a potential agreement regarding some of the assets used in the manufacturing and sale of certain motorsport tyres under the names ‘Avon Motorsport’ and ‘Avon Racing’.  We are looking to conclude these discussions soon and will be able to provide further details once discussions have closed.”