Parella Motorsports Holdings has announced the appointment of Lee Giannone to the role of Chief Executive Officer. Tony Parella, the founder and visionary who created Parella Motorsports and has been the driving force behind the company’s success over the past 13 years, remains a significant shareholder and member of the Board of Directors.
As CEO, Giannone will apply his experience from a diverse career spanning finance, motorsports consulting, and strategic business development to his role overseeing the business operations and strategy of PMH. PMH owns and operates a diversified portfolio of intellectual property and premier motorsports properties, including competitive racing series and events that showcase the best in automotive performance and innovation.
PMH operates the Sportscar Vintage Racing Association, the largest v intage racing organization globally; the Trans Am Series presented by Pirelli, the longest-running professional road racing series in North America; International GT, which offers Porsche and Ferrari competitors three different championship competitions; Prototype Spr int Series Association presented by Hankook, hosting prototype race cars in a sprint race format at America’s most iconic road courses; and Formula Regional Americas Championship, Formula 4 United States Championship, and Ligier JS F4 Series, which are the first professional levels of America’s Formula 1 ladder.
PMH operates more than 25 high-profile motorsports events across the United States annually, attracting over 100,000 fans and participants while creating unparalleled experiences for drivers, teams, sponsors, and spectators. Indianapolis Motor Speedway in Indiana, Circuit of The Americas in Texas, Road America in Wisconsin, Watkins Glen International in New York, Sebring International Raceway in Florida, Sonoma Raceway and WeatherTech Raceway California, as well as VIRginia International Raceway in Virginia, are among the iconic and celebrated race circuits at which PMH operates events.
Velocity Capital Management, a middle-market private equity firm with specialized domain and operating expertise in sports, media and entertainment, acquired PMH with co-investors Cohesive Capital and Bolt Ventures in 2023.
“I want to personally thank Tony Parella for his friendship and partnership and welcome Lee Giannone to the PMH and Velocity family. Velocity intends to continue to provide capital and strategic support to accelerate PMH’s mission to build a larger and diversified motorsports platform,” said David Abrams, Velocity co-founder and managing partner.
“Parella Motorsports Holdings has long been a driving force in the motorsports world, known for its commitment to creating dynamic experiences and making racing dreams come true,” said Tony Parella. “With Lee at the helm, and with his knowledge and experience, the organization is poised to continue pursuing and fulfilling its vision.”