A GROUP of V8 Supercars team owners are hatching a secret plan to buy back their sport from the private investment group that has a controlling 65 per cent stake in the sport.

The Sunday Telegraph can reveal Australia's biggest motorsport category could undergo another shake-up, with individuals from the former Touring car Entrants Group of Australia (TEGA) manoeuvring to oust Archer Capital by buying back the controlling stake in V8 Supercars.

The team owners - a group which currently includes V8 legend Dick Johnson, Red Bull Racing Australia mastermind Roland Dane, Westfield heiress Betty Klimenko and former racers Rod Nash and Paul Morris - sold 40 per cent of their interest in 2011, with Archer Capital also buying out Sports & Entertainment Limited's (SEL) 25 per cent share.

News_Rich_Media: Mark Winterbottom has a case to answer for after running Craig Lowndes off the road in the V8 Supercars at Phillip Island.

Left with 35 per cent of the business and dissatisfied with Archer Capital's involvement following an 18-month period of financial downturn, some team owners have started discussions about buying out the investment firm.

The plan will see the team owners try to raise enough funds to give Archer Capital a return on their investment in the hope they will sell.

The talks have not been escalated to the entire group, with the most powerful team owner and a person essential to any bid claiming he had not been included in any discussion.

The personal wealth of the team owners, which includes some of the richest people in Australia, could be enough to raise the cash necessary to reclaim the sport.

The Sunday Telegraph understands the owners could bring in sponsors and reduce their personal investment.

News_Rich_Media: James Courtney has been severely shaken up as his car was sideswiped by an out-of-control Alexandre Premat. The crash caused all four of Courtney's tyres to leave the ground and was so severe Premat had to pull him from the wreck.

Archer Capital have kept the V8 business at arm's length and their failure to take a major role in the day-to-day administration of the sport is one of the reasons the team owners want them out.

The sport has endured a tough 18 months, with poor leadership blamed for a financial downturn that has seen the dividend of team owners reduced to nothing.

The sport is again on the rise, with new CEO James Warburton already having a significant impact on the series despite being in the role for less than six months.

The former television heavyweight and his administration team have the full support of the team owners and will retain complete control of the sport if the bid is successful.

Warburton has secured several key events that were in doubt, including the Sydney 500 and the Gold Coast 600.

He has simplified events, introduced twilight racing, recruited key staff and improved the sport's bottom line.

Originally published as Secret bid for a V8s takeover