The news report suggested that Gore - who, earlier this year, sold his two V8 Supercar licences citing 'personal business and health' reasons - had taken his latest 'decision' having felt that he had achieved all he could in motorsport, and would not focus his attention on his family and his successful business empire.

"I think we did a pretty good job and worked pretty hard at it... we had good objectives of having an Australian in an Australian team and win a race," he is alleged to have said, "Will [Power] came pretty damn close [and], in my view, we did all right. We ran a team around the world for five years and flew the flag around the world. We competed well and I think, if I had won, I would walk away a winner. But I was going to walk away a winner in any case."

While admitting that he talked the situation over with KVRT's Kevin Kalkhoven and Jimmy Vasser, who run the team that fields Power in the distinctive gold-and-green Dallara-Honda, Gore insists that the ongoing uncertainty over the Gold Coast Indy 300 event had no bearing on the comments he claims have been misrepresented in the media.

“If there is a Surfers Paradise IndyCar Series event, I will work with my current partners to bring Team Australia to the event, with Will Power as our driver," his statement continued, “I have no control and no influence over the event, the possibility of the IndyCar Series competing at Surfers Paradise or the continuing negotiations, [but] I have and will continue to support the event and the team in any way I can until the outcome of these negotiations is clear.

“I did state that I had considered [the 2008] event to be my last if there was not an outcome that would see the IndyCar Series return to Surfers Paradise, [and] I also stated that I was not using this to bluff either the state government or the Indy Racing League into reaching an outcome.

“Giving up is not my style and I intend to fight and offer any and all resources to help keep this event on the Gold Coast and to develop Team Australia into a championship-winning operation.”