The veteran hit the wall hard on the way out of Turn 10 on the opening lap of today's first Porsche race at the Reid Park.
His car was left badly damaged while Quinn was extracted and taken to Townsville University Hospital in an ambulance.
Porsche Motorsport Australia has now issued a statement confirming that Quinn is in a stable condition, but has been left with injuries including a suspected broken leg and punctured lung.
"During Race 1 in Townsville on 09 July 2022 at 12:45pm an incident occurred on the opening lap in which driver, Tony Quinn, was injured," reads the statement.
"On Lap 1 Quinn’s car made contact with the wall on the outside of Turn 10. No other car was involved in the accident.
"Quinn was transported to Townsville University Hospital, where he is being treated by medical staff.
"Initial medical checks of Quinn have identified a suspected broken leg and fractures to his ribs on the left hand side. It is also suspected he has a punctured lung.
Doctors are currently awaiting results of scans and x-rays.
"According to the medical staff at the hospital, Quinn is in a stable condition and will remain under observation in hospital."
Quinn is not only a veteran racer but is also heavily involved behind the scenes in Australian and New Zealand motorsport.
He is the majority owner of Supercars powerhouse Triple Eight Race Engineering and also owns the Queensland Raceway circuit in Australia and the Hampton Downs and Highlands Park circuits in NZ.
