Tim Miles, who was born in Ashburton, was "an extraordinary figure in Australian motorsport", a keen racer, corporate advisor and former team owner.
Tim played a crucial role in shaping the future of Supercars.
Through his company, Miles Advisory Partners, he was instrumental in the sale of Supercars to Archer Capital in 2011.
In 2021, Tim brokered the sale of Supercars to Racing Australia Consolidated Enterprises Pty Ltd.
The proud Kiwi was a regular competitor in Porsche Carrera Cup Australia and GT World Challenge Australia.
This year he was competing with Melbourne Performance Centre and Audi alongside countryman Brendon Leitch.
Previously, Tim was a co-owner of Triple Eight Race Engineering team, selling his shareholding to Tony Quinn in 2021. He was also co-founder of Tasman Motorsport.
A statement on behalf of the Miles family said: "The world has lost the bright, shining light that was Tim Miles.
"Tim was involved in a tragic and ultimately fatal accident this (Sunday, 6 July) morning in Sydney while enjoying one of his favourite hobbies - cycling.
"His loss is keenly felt by friends and family, especially Wife, Tracy, and daughters Caley and Erin.
"Tim was a family man, though one who loved nothing more than stressing out his beloved Tracy about his latest motorsport-related purchase or adventure - all the while proudly telling stories of his two daughters’ successes in life.
"His passing will be notably impactful on his other love - a motorsport community that felt Tim’s impact as a competitor, an owner, a supporter and as a businessman for more than 35 years."
Tim initially chased the dream as a racing driver before focusing on business and growing his successful business advisory firm, Miles Advisory Partners.
It was his success in business that allowed him to extend his passion for motorsport and his family, the two of which often intertwined.
He was noted as a competitor in one-make Porsche racing and GT competition and as a key backer of the international careers of young stars from Australia and New Zealand, including Matt Campbell and Jaxon Evans.
He recently realised his dream of competing at the Le Mans 24 Hours, where he ran a tribute livery to longstanding family friend, Rod McElrea.
"Tim was a fantastic storyteller, a man with a brilliant sense of humour and who showed genuine interest in the lives of those around him - whether he’d known them for years or just met them.
"His loss will be keenly felt by family and friends, the business community in which he worked and the motorsport community in which he lived.
"Funeral details will be advised in due course."
A Supercars statement said: "Supercars extends its deepest condolences to the family, friends and colleagues of Tim Miles, who has sadly passed away.
"Tim was an extraordinary figure in Australian motorsport — not just for his work behind the wheel, but for the immense influence he had off the track across more than two decades.
"As a corporate advisor and former team owner, Tim played a pivotal role in shaping the future of the sport. Through his company, Miles Advisory Partners, he was instrumental in the sale of Supercars to Archer Capital in 2011 — a landmark transaction that helped transform the championship into the powerhouse it is today.
"Our thoughts are with Tim’s loved ones during this difficult time. He will be greatly missed by the entire Supercars community.
