JR Racing have today confirmed they will miss the opening World Superbike round at Phillip Island due to ‘the difference between home team, bank residence and source of funds’ but will be race in Thailand.

The squad, which has former World Champion Corser as a sporting director and Toni Elias and Ayrton Badovini as riders, will test prior to the Thai round before joining for the rest of the season, they say.

"The delay is simply related to the difference between home team, bank residence and source of funds. Regulations on international transfers of large amounts require steps to be fulfilled and delaying long periods,” said team owner Chary Robinson.

“We prefer to do things right from the start and organize everything correctly, even if it means to miss the Australian event due to logistics, because you have to send the bikes well in advance.

“If the first race on European soil had been we would not have any problem, because we must not move the bikes so early. As every cloud has a silver lining, we will use the time to perform the necessary tests until the second race in Thailand. Dorna and our drivers support us in this decision, which we will debut in the World Superbike with all the guarantees.”