Tony Quinn has been left in the lurch after a deal to take over Queensland Raceway and Lakeside Park fell through at the 11th hour.

A deal was set to be finalised at 14:00 AEST on July 1 that would have seen Quinn take hold of Queensland Raceways from incumbent operator John Tetley.

However, that deal has fallen through a week out from the sign-off.

Speaking with Speedcafe.com, Quinn said Tetley called him yesterday to inform him that the deal was off.

“All I can say is I’m f***ing disappointed in the whole deal,” said Quinn.

“We’ve all worked on it for the last three months. We had pretty much better than a handshake deal to consummate the deal next Thursday at two o’clock.

“I got a phone call yesterday at nine o’clock, ‘Nah, I’ve changed my mind. I don’t want to do it’.

“I’m just absolutely gutted mate.”

Had Quinn taken over the facilities, plans were in place to revitalise the two tracks, which are the closest permanent facilities to Brisbane and the Gold Coast.

Changes to the layout were among the possibilities for Queensland Raceway, while safety upgrades to Lakeside Park and plans to turn it into the ‘Goodwood of the South’ had begun.

Discussions between Quinn and Supercars took place too.

Quinn said Tetley told him he’d be going through with his own renovation plans.

“I hope that he actually follows through with a refurb plan because for the last decade he hasn’t spent anything on maintenance,” said Quinn.

“To be honest mate, the drains, in both of the facilities, are choked up, the stormwater drains.

“The track fills up with water and he’s got a lot of work to do. Work that you do that you don’t even see.

“A lot of that stuff has to be done. In the past, he hasn’t done it and hasn’t had the desire to do it.

“I hope for the motorsport community that he actually follows through and does improve the facility. If not, what a waste of time it’s all been.

“It’s just very disappointing mate. I didn’t go to school long enough to learn enough words to describe how I feel about the whole thing.”

Discussions between Quinn and Tetley had been ongoing for the best part of 10 years, the latest negotiations the closest Quinn has come to a deal.

The Scottish-born Australian-based businessman retains interests in the sport locally with majority ownership of Triple Eight Race Engineering.

Quinn also owns Hampton Downs Motorsport Park and Highlands Motorsport Park in New Zealand and is working to buy Bruce McLaren Motorsport Park too.

He also owns meat snack company Local Legends, which sponsors Supercars outfit Team Sydney.

Tetley could not be reached for comment.