Agreement sealed for Queensland Raceway sale

Agreement sealed for Queensland Raceway sale

by Incipiowlm
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Quinn, majority owner of Supercars team Triple Eight and owner of the Hampton Downs and Highlands circuits in New Zealand, was poised to buy the Ipswich circuit earlier this year, only for the deal to fall over at the last minute.

However a subsequent attempt to purchase the track from current lease holder John Tetley has proven successful, Quinn set to take over the lease and operations under a new agreement.

That agreement will see Tetley’s Australasian Raceways Holdings company maintain control of the Lakeside circuit, which was tied up in the previous sale effort.

“What Tony & I have achieved with this pact is a co-operative model so that we can continue to deliver a seamless set of events for our respective customers,” said Tetley.

“Tony can focus on expanding the scope and potential of Queensland Raceway and I can give my attention to securing the future of Lakeside and grass roots motorsport.”

Quinn hinted at plans to invest in and develop QR in the near future and said the impending opening of Australia’s international borders made the timing right to finally complete a deal with Tetley.

“The way we have set this up everybody will be a winner,” said Quinn.

“With my experience and connections, Queensland Raceway will be firmly cemented into the position of South East Queensland’s premier motorsport facility.

“With the Qantas announcements last Friday the world is opening up again and we need to be ready to capitalise on both the tourism and growth opportunities that will bring.

“There is also an enormous Trans-Tasman synergy to be had by sharing the expertise into our Queensland and New Zealand operations.

“Our major contribution for QR will be to bring the experience we have with the premier events and ancillary activities that we have developed in NZ.

“Obviously, there will be some positive changes coming to QR next year. We are working with John on the calendar for 2022 and expect to publish it within the next few weeks. You have our commitment that we will meet the expectations of all existing QR customers in 2022.

“It looks to me like everyone is a winner out of the work John and I have put in in the last five months.”

QR last featured on the Supercars calendar back in 2019, with plans for races both last season and this season scuppered by evolutions to the schedule due to the global health crisis.

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