Tony Quinn says deal to buy Queensland Raceway from John Tetley, $10 million in upgrades fell through

A millionaire businessman planned to invest close to $10 million into upgrades to the Ipswich circuit, but those plans have been abandoned. But there is hope some works will go ahead.

Businessman Tony Quinn's bid to buy Queensland Raceway in Ipswich fell through earlier this month.

Millionaire businessman Tony Quinn said he planned to invest $10 million into upgrading Queensland Raceway but a deal to acquire the Ipswich motor racing circuit fell through at the “last minute”.

The entrepreneur and motorsport enthusiast, who owns Highlands Motorsport Park and Hampton Downs Motorsport Park in New Zealand and food company Local Legends, said a deal with the current operator was set to go through on July 1.

It was announced this week that Supercars would return to QR next month due to a Covid-19 enforced reshuffle two years after it was cut from the championship calendar.

Businessman Tony Quinn said a deal to buy Queensland Raceways fell through earlier this month.

The failed $52 million overhaul and extension of the track is understood to have frustrated Supercars executives in the lead up to the decision announced in 2019.

The axing came as a big blow to the motorsport-mad city, with the event bringing in about $8 million to the local economy a year.

Ipswich City Council owned company Ipswich Motorsport Park, which was established in 2016 to redevelop QR, was deregistered in 2018.

Mr Quinn said he had been trying to buy QR for 10 years from Queensland Raceways CEO John Tetley.

Queensland Raceways runs two circuits and the deal would have also included Lakeside Park, which is located 30 kilometres north of Brisbane.

“John sort of pulled out at the 11th hour,” he said.

“I’ve been friends with John for about 20 years.

“I thought we had it this time. We had a deal all agreed and then he just pulled out.”

Mr Quinn, who previously owned Darrell Lea and V.I.P. Petfoods, believed Supercars was only going back to QR for a three race event in August as “they’ve run out of places to go”.

Jamie Whincup in action at the Ipswich SuperSprint at Queensland Raceway in 2019.

“John was very much focused on his race meetings at the expense of the V8s and the national race meetings,” he said.

“I was immediately going to introduce a hybrid version to allow national events to be there. I think we had a budget close to $10 million to upgrade the facilities.

“Nothing has been spent for a decade. You’ve got people using it every weekend.”

When approached by the Queensland Times about the sale and potential upgrades, Mr Tetley said he had no comment to make.

The council owns the land but the track and facility are operated independently by Queensland Raceways.

“The leaseholder is responsible for all infrastructure, maintenance and costs associated with operating the facility,” a council spokesman said.

“Council has not received any request to help fund an upgrade.”

Its lease ends in 2027 but there is a 30-year option.

In a statement, Mr Tetley said “significant new works” would be undertaken between January and November when events slow down.

“Assuming no future extended closures, you can expect to see more spectator facilities at QR,” he wrote.

“Twenty two - our time to renew.”

It was announced in 2019 that Queensland Raceway would be cut from the Supercars calendar.

“(John) is still a friend,” Mr Quinn said.

“I think he’s been able to reflect on his views and take a different approach (after the sale fell through) which I think is a good thing for the sport and the complex.

“I’m all in favour of spending a bit of money there improving the facilities a bit to get more national race events there.

“He’s certainly said publicly he’s going to spend some money.

“He needs to invest in that facility for the good of everybody.”

Mr Quinn, who is based in Australia, said his focus was now on investing elsewhere.

“As one door closes, another opens,” he said.

“I’ve now got an opportunity to perhaps look into the future a bit at where is the ideal spot for a Queensland international motorsport park. That’s kind of where I’m looking at now.

“I doubt it will be in Ipswich. I would still look at the opportunity with John, that would be on a commercial basis.

“Queensland Raceway, even if John spent a fortune on it, it’s still a basic track. It’s a good training track and a good testing track but it’s not a fantastic race track from a driver’s perspective. Lakeside is the past … it’s probably run its race if you like.

“What should a modern race track look like and where should it be located? That’s where I’m heading down right now. I am still interested in Queensland.”

Mr Quinn didn’t divulge exactly where he had in mind but said it would be within 80 kilometres of the Brisbane CBD.

Read more stories by Lachlan McIvor here.