Casey Stoner was officially made a MotoGP legend during a ceremony at his home Australian Grand Prix at Phillip Island on Saturday.

Stoner retired from MotoGP last season, at the age of just 27, as a double world champion.

After making his debut with LCR Honda, Stoner became Ducati's only MotoGP title winner at his first attempt in 2007. He then switched to Repsol Honda in 2011, instantly adding a second crown. Ankle injuries ended hopes of a third title, but Stoner completed a perfect home farewell with his sixth successive victory at Phillip Island last year - his 38th win in the premier-class.

Stoner becomes the 20th person to receive the MotoGP Legend honour, alongside Giacomo Agostini, Mick Doohan, Geoff Duke, Wayne Gardner, Mike Hailwood, Daijiro Kato, Eddie Lawson, Anton Mang, Angel Nieto, Wayne Rainey, Phil Read, Jim Redman, Kenny Roberts, Jarno Saarinen, Kevin Schwantz, Barry Sheene, Freddie Spencer, John Surtees and Carlo Ubbiali.

"It seemed almost unrealistic when I was offered this [Legend honour], but also I'm not going to turn it down," said Stoner. "I appreciate to be added alongside these riders even though sometimes I don't feel I deserve to be there. But I'm very proud of our achievements, in the time that we had in grands prix. It's a privilege for me to be added to the list."

Turn three at Phillip Island was renamed 'Stoner Corner' during last year's event, in recognition of his amazing record at the circuit.

"This place has been very special to me. In the first couple of years I didn't have a lot of success or a great feeling with the circuit. It was only when I got on the MotoGP bike that I really became comfortable with it," said Stoner. "Most people I was racing against had actually been here more times than me. So it was nice to learn some of the secrets and be able to somehow find an advantage so that no-one seemed able to really push us in these last years. And no matter what bike we had we were always competitive."

Stoner then spoke about his post-MotoGP life.

"Honestly it's been quite nice. A little bit of [V8] racing, without any pressure or stress and being able to have some time at home, which I haven't had since I was 14 years old. Being able to spend it with my family and look at our future. I've enjoyed it."

Rumours that Stoner might return to MotoGP began circulating even before last season's Valencia finale. Stoner again played down a full time comeback, but did admit that a home wild-card was considered.

"I have no wish to return, especially at this moment. I'm happy just to watch from the sidelines. I'm a little bit disappointed I don't get to race at this circuit but everything that goes along with it unfortunately keeps me away," he said.

"I'm happy not to have the pressures and stresses that I know a lot of the other riders will be going through.

"We thought about doing a wild-card at this track last year when I decided to retire and we were talking about doing the testing," explained Stoner, part-way through a series of private test sessions to help Honda develop next year's MotoGP machines.

"But with the testing scheduled so late in the season - I spent too much time off the bike and we haven't been able to test enough anyway to be half-decently competitive. It wasn't realistic, so we decided against it quite a long time ago."

Stoner, who has only had chance to see "about one and a half" MotoGP races on TV, is also set to step back from V8 Supercars in 2014. "I'm going to have the year off that this year was supposed to be. Then we'll start making our plans for the future."

Meanwhile Repsol Honda replacement Marc Marquez is on the verge of becoming the first rookie world champion since 1978, a feat he could achieve in this Sunday's race.

"I think Marc's done a fantastic job this year," said Stoner. "We've seen him come up through the ranks, get quicker and quicker, grow a lot in terms of maturity. But I still think he could do things maybe off track just a little bit nicer and be slightly more respectful with some of the things that have happened on track.

"Okay they are racing incidents but I think in his words he could be slightly more respectful of what's happened. I think he's had a stellar year and I look forward to seeing what he can do in the future.

"I said this last year and the beginning of this year: We weren't really too sure what he was going to be able to do because we weren't really too sure of the level of Moto2, but now we see that the level was very high, especially Marc."

Fans that want to find out more about Stoner's own route to the top will be able to do so in a newly released biography.

"It is something that is very strange for me to talk about myself in general, let alone a biography," confessed Stoner. "A lot of people who helped me get to where I am now were the main reason for writing it. In general it shows a bit about us, my story and what we and others had to sacrifice to get there. Hopefully it will show a few people that want to give up sometimes that you have to keep pushing through."

And how would Stoner like to be remembered?

"Honestly each to his own," he replied. "There are some people that will remember me well and others that will remember me not so well. I was a competitor to a lot of their idols, someone that took a lot of race wins away. Some people remember me as a loud mouth Aussie, others will remember me as being honest. Each person will make their own decision."

Stoner will take part in a parade lap alongside fellow Australian world champions Mick Doohan and Wayne Gardner just before Sunday's MotoGP race.

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