Targa Tasmania should return in 2023 despite four people dying in the last two editions of the race, the reigning champion says.
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North-West driver Eddie Maguire said the death of a Brisbane man, 59, on Wednesday was tragic and had shaken them all.
However, he said they all understood the risk that came with competing in the event.
"It is an absolute tragedy and we feel for the family and friends of the victim," he said.
"It was like living in a bit of a horror movie after last year's tragedies. We were really shaken up.
"At the same time, we all understand the risks and will continue in the sport.
"We are all putting ourselves at risk and we understand that and more than ever now with four deaths in the last two years, and I believe we have the right as to whether we put ourselves at risk."
Mr Maguire said himself and team mate Zak Brakey worked very hard to prepare themselves and their Dodge Viper for the event, like all the competitors did.
"We are not just larrikins," he said.
"This is something we work incredibly hard at.
"We don't just turn up at the event. We put an incredible amount of money and time and years and years to get at the level we are to do it.
"We understand the risks, but work very hard to mitigate the risks and so do all the top drivers."
This year's edition of Targa Tasmania has been downgraded to a non-competitive tour event.
Mr Maguire said while he respected the decision his team would not be continuing in the event.
"We are not going to continue on for the reason that our car isn't designed to drive like that," he said.
"We understand and respect the decision, however the tour is not for us."
Mr Maguire said he believed other sports, such as mountain biking, also came with risks for those taking part.
"A lot of sports are dangerous and we understand this one is and we all choose to turn up, and there are plenty of measures in place to mitigate the risks," he said.
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