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Skaife relieved to be cleared of debt

Posted December 4, 2008 13:01:00
Updated December 4, 2008 13:21:00

Mark Skaife announces his retirement

Mark Skaife... will head into retirement free of debt (file photo). (Getty Images: Lucas Dawson)

V8 Supercars driver Mark Skaife says he is pleased to have resolved the financial problems with his racing team before his final race.

Skaife will retire after this weekend's last race of the season at Oran Park.

The five-time V8 champion has made a deal with British racing magnate Tom Walkinshaw to remove a debt of $3.6 million by relinquishing his part-ownership of the Holden Racing Team.

Skaife says he does not think the issue will distract from his retirement.

"Although that has made the first part of the week a bit tougher, in some ways to get all this cleared up and have this clean me with an established basis and platform to work from and my ability then to concentrate on the weekend - in some ways it's been a good thing," he said.

He confirmed he would walk away from his 22-year career debt free.

"There's no debt from the race team in that respect at all, which means that I'm totally clear of any of those responsibilities," he said.

"In terms of risks moving forward for the team, clearly we want to do the best thing by the team in that respect."

Tags: sport, motor-sports, v8s, australia, nsw, sydney-2000

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