Dick Johnson Racing has announced that the Ralph family will become majority shareholders of the team from January 2023.
The Ralphs and family figurehead Brett Ralph have an interest in various sporting teams, including the Melbourne Aces baseball club, Melbourne Storm rugby league club, Melbourne United basketball club and the Sunshine Coast Lightning netball club.
Team founder Dick Johnson and executive chairman Doctor Ryan Story will continue to spearhead the team by holding a significant share in the business and maintaining their day-to-day positions and overseeing operations.
“Brett and the Ralph family are strategic investors at DJR, with the current management structure we have in place continuing to run the business day-to-day as they have been,” said Story.
“Brett and the Ralph family are fantastic people, and we couldn’t imagine partnering with anyone else. They are extremely experienced business people with a passion for sport that is undeniable. From the moment I first spoke with Brett he and I just clicked, and I knew we would have a fantastic working relationship.”
Johnson added: “Jillie and I are excited to welcome the Ralph family into Dick Johnson Racing. We are immensely proud of the family culture we have created at DJR and to be working with a family who have the same values and views is extremely exciting and confidence-instilling.”
The ownership change follows two years after the departure of Team Penske, with the team formerly known as DJR Team Penske reverting back to its original Dick Johnson Racing name in 2021.
“On behalf of the Ralph family, we are honoured to join Dick Johnson Racing as a majority shareholder,” said Brett Ralph.
“We are very excited to be part of Australia’s most iconic race team who has winning in its culture, just like all of our other business ventures and partnerships.”