IPSWICH, AUSTRALIA - JULY 29: Craig Lowndes drives the #888 TeamVortex Holden Commodore VF leads the field at the start of race 15 for the Ipswich SuperSprint, which is part of the Supercars Championship at Queensland Raceway on July 29, 2017 in Ipswich, Australia. (Photo by Daniel Kalisz/Getty Images)

Plans to upgrade Queensland Raceway where the Supercars series race in July every year,  have been put on hold after new Major Andrew Antoniolli announced yesterday that the IMP company will be wound up.

IMP or Ipswich Motorsport Precinct, was a $220 million dollar project funded by the council/state government aimed at upgrading the circuit wet of Ipswich, including extending the already 3 km track, however it now appears as if the improvements can not go ahead without extensive legal proceedings.

“Council established IMP with the sound aim of taking the precinct forward to become an internationally-recognised, commercially sustainable headquarters for motorsports and large events,” Antoniolli was quoted as saying on the sports official website. “Our view that this is possible has not changed, however we need any transition to be transparent.”

“IMP has ceased all activities which were underway and the company will be wound up as soon as possible. This is a common sense approach while the future of council’s involvement and any investment in the precinct is under review. Council has repealed its earlier decisions relating to the Queensland Raceway lease and will not proceed any further lease resumptions.”

Safety upgrades to the track still need to be done before the 2018 Supercars event takes place.