Bob Jane T-Marts founder, who was inducted into the V8 Supercars Hall of Fame in 2000, was suffering from prostate cancer

Australian motor racing legend and businessman Bob Jane has died at the age of 88.

His family said in a statement that he died on Friday night “after a long and brave battle” with prostate cancer.

“It is with great sadness that we would like to share the passing of our dad, Bob Jane (Robert Frederick Jane),” Jane’s children Courtney, Charlotte and Robert said in a statement on Saturday.

“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.

“Whilst dad was an Australian icon and champion of the community, most importantly to us he was our loving dad.”

Known for his chain of tyre stores Bob Jane T-Marts, Jane was inducted into the V8 Supercars Hall of Fame in 2000. He was also a four-time winner of the Armstrong 500 (later known as the Bathurst 1000) and a four-time Australian Touring Car champion.

Jane opened his first Bob Jane T-Marts store in Melbourne in 1962 and went on to launch many more outlets across the country.

However, things took a turn for the worse in 2011 after Jane lost a lawsuit that he had taken out against Rodney, his son from a second marriage, regarding the tyre company.

In 2016, Jane filed for bankruptcy.