Similar to when Roger Penske was a part owner in the team, the plan is for a new partner to take an ownership stake alongside current co-owners Ryan Story and Dick Johnson.
That partner has been found with the majority shareholding now held by the Melbourne Aces Baseball Club.
That's through businessman and sports fanatic Brett Ralph, the co-founder and managing director of the successful Jet Couriers business, which operates in Australia, New Zealand and the United States.
The Melbourne Aces sporting portfolio also includes stakes in rugby league team Melbourne Storm, netball team Sunshine Coast Lightning and basketball team Melbourne United.
Story and Johnson will continue to own shares in the team and will continue in their day-to-day roles.
“I am excited to announce today the team’s partnership with the Ralph family," said Story.
"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.
“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.”
Ralph added: “On behalf of the Ralph family, we are honoured to join Dick Johnson Racing as a majority shareholder.
"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.”
