Triple Eight Race Engineering welcomes Tony Quinn to the team, who has purchased a 40% share of the Brisbane-based outfit.
Quinn has established himself over the last two decades as one of Australia’s most distinguished businessmen, having remodelled and grown companies such as V.I.P. Petfoods and Darrell Lea with astounding success. He is known amongst motorsport fans as a passionate racer, having been involved around the world as a competitor, sponsor, category owner and circuit owner.
“Both Roland and I are confident that the team will continue their winning ways, and I have absolute and unwavering trust,” commented Quinn. “There’s an old saying, ‘too many cooks spoil a good soup’. The team will do a great job without my heavy involvement. In fact, one of the attractions to me was that I wouldn’t be required on a constant basis. Whenever my guidance is sought though, I’ll be available.
The investment comes as part of Triple Eight Co-founder Roland Dane’s succession plans for the squad that he has led since its introduction to Australia in 2003, which have been in the works over the last five years. The restructured shareholdings see Jamie Whincup, who bought into the business in 2018, increase from 15% to 19% and Jessica Dane, who became a shareholder in 2015, increase from 27% to 30%.
“Tony is an excellent fit for Triple Eight – he shares our passion for racing and innovation,” said Dane. “We were flattered that someone of Tony’s pedigree was interested in buying into our business and his approach has helped us to cement our business succession. He’ll certainly be an asset to the team and we’re delighted to welcome him on board.”
As a continuation of the succession plans, Dane will step back from his current roles as Managing Director and Team Principal at the end of 2021. Seven-time Supercars champion Jamie Whincup will retire from full-time driving duties at the end this season to take over as Triple Eight’s Managing Director and Team Principal. Dane will remain involved with the team in a part-time advisory role, as Chairman of the Board of Directors and as a shareholder, while Whincup will evaluate the option of co-driving with Red Bull Ampol Racing in 2022.
Whincup and Dane will use 2021 as a period of learning in order to best prepare for the changes next year. The transition will continue into 2022 when the pair will maintain a close working relationship through Dane’s part-time capacity. Triple Eight’s focus is fully on delivering the best results possible on and off the track for our partners, fans and stakeholders this year and into the future.
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