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 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."

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."