Team Australian co-owner Craig Gore has rubbished reports claiming that he has decided to turn his back on motorsport following recent emergency surgery, insisting that what he considered to be a private conversation has been taken out of context.

The Gold Coast businessman issued a statement to counter stories that appeared in the Australian media overnight, admitting that he was worried that the news may have a detrimental effect not only on the IndyCar Series, but also its chances of returning to Surfers Paradise. Discussions are currently underway to try and find a resolution to the impasse over dates after the series inaugural visit in late October proved to be a success.

The goldcoast.com.au website claimed that Gore had 'quit motor racing', having decided after his recent health scare that he wanted to put family time before ongoing racing commitments.

"I was given a week to live before my operation, and that's really changed my view of things," he is alleged to have said, "I would rather spend time with my kids than race cars.

"I am considering myself retired from motorsport. I am so happy to be down at Byron Bay at the beach house and pleased not to be involved in it any more, with all the time and energy that went into it. I am just seriously over motorsport - been there and done that. I have other things to do with my time."

Gore was rushed to hospital for emergency surgery on a perforated bowel while on a business trip to Britain last month, but insists that his brush with death had not had any impact on his future in motorsport. Indeed, despite having been advised not to travel, he returned home to the Gold Coast for the IRL event last month, and now insists that he has not taken any decision regarding his involvement, either with Team Australia or any future Surfers Paradise event.

“I have not made any announcement regarding my retirement from motorsport,” he said in a statement, “I did state that I was taking time this week in Byron Bay to reflect upon things and my future after a life-threatening illness and, that if it came down to having to make a choice, I would prefer to spend time with my kids rather than go racing. I made no comment of whether I discussed this with my family or close friends, [and] I considered this conversation to be in confidence.

“I deeply regret this attention, which may have had a negative impact on the IndyCar Series, the event and the many great sponsors of our team. Most importantly, I deeply regret any impact this may have had on the team and its partners.

“I am disappointed by the reports in the media today, but it would not be the first time I have been disappointed by the way media has dealt with my answers. For the record, I was answering questions asked and there was no announcement being made by me."