New Owner For Kmart Racing
Ray Borrett, Holden Director of Performance Products and Racing, today advised that Holden had on-sold its contracted franchise for Kmart Racing to Mildura businessman, John Kelly.
Property developers John and Margaret Kelly, the parents of V8 Supercar drivers Todd and Rick Kelly, will now assume responsibility of the Kmart Racing Team.
Kmart had previously raced under a services agreement (with TWR Australia and driver/owner, John Faulkner), which was purchased by Holden in February.
“We’ve been involved with motor racing for a considerable amount of time and we have long-term objectives to ensure that the Holden teams stay at the front of the field,” Mr Kelly said.
Faulkner will continue to field race Commodores with Holden support for drivers Dale Brede and Tony D’Alberto as Holden Young Lions entries in the Konica V8 Series.
“This move follows the Mark Skaife arrangement announced earlier this week, and now sees three completely independently franchised teams operating – Skaife with HRT, Kees Weel with Team Brock and John Kelly with Kmart Racing,” Borrett said.
“We have advised TEGA (the controlling body for V8 teams) earlier today seeking approval of the deal.
“As a result of this arrangement, Holden is now in the process of divesting itself of any raceteam ownership as per TEGA regulations,” he added.