Tyre king and racing car legend Robert "Bob" Jane has died aged 88 after a long battle with prostate cancer.
Mr Jane's children Courtney, Charlotte and Robert issued a statement to the media on Saturday morning.
Bob Jane has died after a long battle with cancer.
"It is with great sadness that we would like to share the passing of our dad, Bob Jane (Robert Frederick Jane)."
Mr Jane passed away late on Friday night in Melbourne surrounded by his family, Robert Jane junior confirmed to Fairfax Media.
"It was our privilege to have had him as our dad, whom we loved and cherished. We will miss him deeply and he will forever be in our hearts," the family's statement read.
"Whilst dad was an Australian icon and champion of the community, most importantly to us he was our loving dad."
Glory days … Bob Jane after winning the 1972 Australian Touring Car Championship.
Bob Jane was once one of Australia's most famous racing-car drivers.
He was a four-time winner of the Armstrong 500 (which later became known as the Bathurst 1000), a four-time Australian Touring Car champion and in 2000 was inducted into the V8 Supercar Hall of Fame.
In 1962, he opened the first Bob Jane T-Marts store in Melbourne and went on to become a multimillionaire.
But the motorsport icon became mired in controversary in recent years.
A bitter family feud engulfed the Jane family in 2013 when the Supreme Court of Victoria threw out a $2.9 million lawsuit Mr Jane had taken out against his son Rodney involving the tyre business.
Mr Jane was sent into further financial ruin, declaring bankruptcy in 2016.
There are no confirmed plans for Mr Jane's funeral.
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