The Ralph family will start holding the majority of the stock in the Ford team starting in January 2023, according to a statement from Dick Johnson Racing.
Majority shareholder of DJR
The Ralph family will take a majority stake in the Repco Supercars Championship organisation starting in January 2023, the Stapylton-based organisation announced.
According to the team, Dick Johnson and Executive Chairman Ryan Story will keep their jobs and keep “a large stake” of the company.
The Melbourne Aces Baseball Club will hold the Ralph family’s investment.
Shares of the Melbourne Storm National Rugby League Club are also included in their portfolio.
Through the Melbourne Aces Baseball Club, their interest will be protected.
I am excited to announce today the team’s partnership with the Ralph Family
The Melbourne Storm NRL team and Sunshine Coast Lightning Super Netball team are already part of the Aces’ sporting portfolio, and this further expands it.
In the meanwhile, Brett Ralph serves as the Chairman of the Melbourne Aces Baseball Club in addition to being a director of the Sunshine Coast Lightning Super Netball Team, Melbourne United Basketball Club, and the Australian Baseball League.
Ownership change in DJR
Ryan Story and Dick Johnson will still own a sizable portion of the company.
Johnson and Story will continue to manage operations while keeping their current jobs.
Currently, the team competes under the Shell V-Power Racing Team name.
Since the start of 2021, DJR has experienced four ownership changes.
Tony Quinn became a major shareholder in DJR
Last January, Tony Quinn acquired a sizable stake in Triple Eight.
The Grove Group purchased a stake in Kelly Racing that same month with plans to take over the organisation in 2022.
After Peter Xiberras acquired Team Sydney during the off-season, PremiAir Racing was established.
Dick Johnson Racing History
Johnson established DJR in 1980, and a year later he completed the championship-Bathurst double.
Since the late 1990s, the team has been located in Stapylton.
The team has seen three significant ownership changes in the last ten years.
Late in 2014, Roger Penske bought a 51% stake in the team, which changed its name to DJR Team Penske.
The squad won more than 50 races, three titles, and the Bathurst 1000 between 2015 and 2020.
In late 2020, Penske sold Ryan Story his share of the team, retaining the DJR moniker.
Brett Ralph, the patriarch of the family, serves as a director for the Australian Baseball League, Melbourne United, and the Sunshine Coast Lightning in basketball.
He also serves as the baseball team’s chairman, the Melbourne Aces.
The Ralph family joining the team was a joy for Story.
Story added, “I’m thrilled to announce the team’s relationship with the Ralph family today.
“Brett and the Ralph family are strategic investors in DJR, and the company’s present management structure will continue to oversee day-to-day operations as usual.
From the moment I first spoke with Brett he and I just clicked, and I knew we would have a fantastic working relationship.
We couldn’t fathom working with anyone else because Brett and the Ralph family are such wonderful individuals.
They are very seasoned businesspeople with an undeniable enthusiasm for sports.
Ralph family now owns majority shares in the Ford squad
The Supercars Hall of Famer added, “Jillie and I am thrilled to welcome the Ralph family to Dick Johnson Racing.
“At DJR, we have cultivated a culture of family for which we are really proud.
Being able to work with a family who has the same values and perspectives is quite exciting and gives one more confidence.
Added Brett Ralph “We are honoured to become a majority shareholder in Dick Johnson Racing on behalf of the Ralph family.
We are thrilled to join Australia’s most storied racing team, which, like all of our other business endeavours and collaborations, places a premium on success.
This weekend at Sandown, the Shell V-Power Racing Team’s 2022 season will continue.
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In the drivers’ standings, Anton De Pasquale and Will Davison are in third and fourth place, respectively.
In the rankings for teams, the Shell V-Power Racing Team is in second place.
On Friday, cars will start racing at Sandown.
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