Dane has held the non-executive chairman role since handing the team principal reins over the Jamie Whincup in 2022.

It remained as the last tie to the team for the Dane family, with both Dane himself and his daughter Jess having sold their respective stakes in the team in recent years.

Dane delivered the news via an open letter addressed to ‘friends, colleagues and partners’.

“At the end of 2021, as I stepped aside from the role of Managing Director and Team Principal, I agreed with the shareholders of Triple Eight that I would carry on as non-executive chairman of the company for at least 12 months,” wrote Dane.

“Now, three years later, I feel that it is time for me to move on from this truly incredible chapter of my life, and stand down from that position at the end of this year.

“Over the last two decades, Triple Eight Race Engineering has established itself as the best and most successful professional race team in Australian motorsport history. That’s for one reason, and one reason alone; specifically, the unbelievable group of high calibre folks who have worked for, and with, T8 during those 20 plus years.

“Great people, and great commercial partners, have come, and sometimes gone, throughout that period, and others have been there al through the journey to this day.

“Top performing sports teams are built on a blend of culture, passion, and single minded drive. Triple Eight remains the epitome of that today and I am truly as proud of the business now as I ever have been.

“I therefore thank, from the bottom of my heart, al those who have worked alongside me over the years and helped create the biggest shelf of trophies the sport has ever seen in this country.

“Whilst I am incredibly indebted to a huge number of people, many of whom remain friends, and I am hesitant to call out individuals, there are three stars that can’t escape and without whom Triple Eight just couldn’t have succeeded, namely;

“Ken McNamara, of KRE Race Engines, the unsung hero of Australian motorsport who has built more race, and championship, winning engines than everyone else combined and just continues to get-shit-done whatever happens.

“Nuri Paterson, the ‘mother’ of the Triple Eight team since 2005 in her position as Chief Financial Officer and everything else besides! My brick through thick and thin, who truly understood my philosophy that there’s only ever two places money can be; in our account or not in our account;

“And a certain Craig Lowndes who believed my, highly effective (oft employed and for which I make no apologies), used car dealer spiel back in 2004, and has remained loyal to the team ever since. Without CL, it would have been a hell of a lot harder to create the juggernaut that T8 is today. Our first race winner and a Bathurst superstar.

“I leave the team in great hands. The shareholder group is the best in the pit lane and more than capable of giving Jamie and the team the support required behind the scenes.

“My final formal act as Chairman has been to propose, and endorse, the election of Rex Devantier to that position, effective 1.1.25. Rex has worked with [Tony Quinn] since Big Ben was a wristwatch and is very well qualified to keep the board in order and on track. He’s a behind- the-scenes kind of guy and that’s exactly what Triple Eight needs now.

“No-one at T8 has ever really worked for me, but hundreds have worked with me and come out of the trenches alongside me. The success over the years has been yours as much as it’s been mine and you’ve al made me look better than I really am.

“I can only say that it’s been an honour and a privilege to be a part of this almost implausible ride, and the memories will remain with me so long as I’m the right side of the turf.

“Thank you all.”