Rights To The Saleen S7 Up For Sale As Company Hunts For Cash

After a few years spent finding his footing, Steve Saleen began to make a name for himself on the racing circuit as more than just a driver. By 1986, Saleen Automotive was on the rise with its racing Mustangs, and motorsports were the catalyst that took it to new heights.

Today, you can still buy Saleen Mustangs for the road, along with Camaros, Challengers and even a modified Tesla. But the most important part of Saleen history was the release of the S7 at the turn of the century — an American supercar that took on the best Europe had to offer. And now the remaining assets and all intellectual property from that iconic machine — and S7R racing variant and the S5S Raptor — are for sale at auction.

The sale will be controlled by GA Global Partners, and will include the six-remaining chassis and frames from the S7, the S7R, and the never-produced S5S Raptor: “These prized assets have been kept in safe storage for the past five years which makes this a truly rare and historic opportunity to own all assets and rights to the first ‘Great American Supercar,’ and allow a new owner to continue the legacy with the S5S Raptor,“ said Adam Alexander, CEO of GA Global Partners.


Saleen S7R at Silverstone in 2010

In 2005, the $400,000 S7 received a powertrain upgrade to 750 horsepower, helping achieve a staggering top speed of 248 mph. Even before that, the S7R racing version was lighting up the circuits, but it took until 2010 for the car to finally win its class at the famed 24 Hours of Le Mans. As for the S5S Raptor (below), revealed in 2008 as a Lamborghini Gallardo rival and a follow-on from Saleen’s involvement in the revamped Ford GT, that machine never made production.


Saleen S5S Raptor shows itself to the public, with the Saleen Mustang lurking in the background

The sale — from an owner not affiliated with the company — comes as Saleen Automotive itself has all but run out of cash. The company went public in 2013, and in its most recent financial report filed with the U.S. Securities and Exchange Commission, revealed it was behind on rent, payroll and debt payments, with $21,000 in cash on hand earlier this month after losing $5.3 million in the last fiscal year. With “substantial doubt about our ability to continue as a going concern,” Saleen said it was frantically seeking new cash to keep its doors open.

Regardless of what all this means behind the scenes for Saleen, it does offer the chance for someone to acquire a notable part of American supercar and racing history — and, if they wanted to, resume building American supercars.

(July 24: Corrected to clarify the relationship between the owners of the S7 and Saleen Automotive).