F1 Arcade is raising £100m to fund its expansion in a financing round backed by the sport’s owner.
Sky News reports that the Formula One driving simulator business is said to be close to finalising the new debt facility with Liberty Media, Oaknorth bank, and investment fund, Cheyne.
Sources have suggested the deal was expected to be completed within the next week, days before the British Grand Prix at Silverstone.
The official Formula 1 concept combines full-motion racing simulators with a food and cocktail offering, with sites in London, Birmingham and new openings set for Boston and Washington DC in the US.
F1 Arcade investors currently include DMG Ventures, Lando Norris, the McLaren Racing driver, as well as Imbiba, the hospitality and leisure investment fund.
Last year, the experiential leisure concept closed a round of fundraising with a £30m investment to fund expansion, amid plans to open more than 30 locations globally by the end of 2027.
The funding would support the Formula 1 simulator racing experience’s international expansion plans, primarily in the US, where the business is building a pipeline.
At the time, the business was also in discussions with franchise partners in Europe, the Middle East, and Australia, among other territories.
