V8 Supercars second oldest team, in terms of lineage, will disband after the Telstra 500 in Sydney next month.

Tasman Motorsport, competing as Sprint Gas Racing and formerly Lansvale Smash Repairs, has sold its 2010 Supercar licences to proposed teams being formed by Lucas Dumbrell and D’Alberto Racing.

The team’s Dandenong factory assets, including transporter, engines, tools and equipment will be onsold to other teams.

Tasman’s Bathurst winning drivers Greg Murphy and Jason Bargwanna are well placed to secure seats at other teams, with both in advanced stages of negotiations.

Co-Owner Kevin Murphy will take two Sprint Gas VE Commodores for use in the Fujitsu V8 Development Series at GMR next year, while Tasman key personnel, under the guidance of team chief Mike Henry, are looking to set up a race preparation facility in Melbourne, possibly in league with engine man Royce McCort.

Tasman’s 24 year lineage dates back to 1986 when Lansvale owners Steve Reed and Trevor Ashby appeared as privateers in pit lane in a VK Commodore, winning the Privateers Cup in 1988. The duo subsequently made 16 Bathurst starts to hold the record for most starts by a single combination in the history of the race.

Under Tasman ownership, the team achieved memorable results with runner-up finishes at Bathurst in 2005 and 2008 and third place in the 2005 Sandown 500.

Fulltime Drivers over the period also included Cameron McConville, Jason Richards and Jamie Whincup, with debut drives from Fabian Coulthard, Andrew Jones and Tony D’Alberto.

“It’s is a shame to end such an era in the sport, but, our business model would not support the sporting success that we desired” said Tasman Co-Owner Tim Miles.

“During the period of our ownership, the team has showed promise – generally in the enduros – and we were gutted to come so close – but still miss out on a pair of podiums at Bathurst this year, with the Skaifey and Murph car as well as Bargs and Noske.

“The fact remains that our structure was not going to allow us to grow into a team that consistently challenged for podiums, in such a competitive environment that is V8s.

“But, we have had a great team of guys and they will move on to bigger and better positions in the sport.

“Finally, I would also like to acknowledge the support of all our sponsors, especially Fuchs (who have been with us for seven years), Sprint Gas – and all of the others – plus give a special mention to original founders Steve Reed and Trevor Ashby, who have been very much a part of the fabric of this team.”