The control of Queensland Raceway has been signed over to businessman Tony Quinn who will handle the lease, management and operations of the Ipswich venue.

Current lease holder John Tetley’s Australasian Raceways Holdings (ARH) will remain in charge of Lakeside Park in the north Brisbane suburb of Kurwongbah, while Quinn’s Keltic Motor Sport (KMS) is set to focus its attention on the circuit known as ‘The Paperclip’.

Quinn, the owner of New Zealand’s Hampton Downs and Highlands Circuit, was set to take over the raceway earlier this year until an 11th-hour collapse of the deal, as Tetley outlined plans to revamp the circuit – which was first opened in 1999.

Tetley said he would be handing over control of the 3.12 kilometre facility to Quinn, but the historic Lakeside Park would remain under ARH’s ownership – with the plan being to focus on grassroots motorsport at the track.

“What Tony and 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 grassroots motorsport.”

Quinn, who also is a part owner of Supercars team Triple Eight Race Engineering, said the deal would ensure everyone involved benefits – from those involved in operations to competitors and fans.

“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.”

“[Following] the Qantas announcement 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 [between] 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.”

It is unclear as to whether the ownership takeover by Quinn will impact existing events such as Powercruise at the venue, or whether the Supercars championship can return next year after being snubbed from the calendar in 2022.

“Obviously, there will be some positive changes coming to QR next year,” said Quinn.

“We are working with John [Tetley] 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.”