The sidecar team involved in a high-speed crash during qualifying have said the damage to the outfit is ‘far worse than we could have imagined’.

Seven-time podium finishers Peter Founds and passenger Jevan Walmsley were involved in the incident at Rhencullen which saw the session red flagged and ended with their DDM Honda in flames.

The pair were initially air lifted to Noble’s Hospital, but despite the spectacular nature of the crash they were discharged with only minor injuries.

In the wake of the crash Team Founds set up a GoFundMe page to help repair their badly-damaged outfit, which has raised more than £11,000 since it was set-up last week.

At the time a spokesperson for the team said: ‘As a privateer team, we’ve never had major sponsors or deep pockets.

‘Everything we've achieved has come from hard graft, long nights in the garage, and sheer passion for the sport.

‘Racing is in our blood - it’s what we live for.

‘And right now, we’re doing everything we can to get back on the grid. The money raised will go directly towards rebuilding the sidecar.’

Updating fans on the fundraiser’s progress, a post on the Team Founds Facebook page revealed the damage has left the bike beyond repair.

It read: ‘Firstly, we want to say a massive thank you to everyone who has supported Team Founds 72 so far, your generosity, kindness, and words of encouragement have truly, truly meant the world to us.

‘Now that we are home and we've had chance to fully assess the bike, unfortunately, the news isn’t what we’d hoped for.

‘The damage is far worse than we could have imagined. The chassis has suffered significant impact damage and will need to be completely replaced.

‘The fire has destroyed all the electrics, including the Electronic Control Unit (ECU) and clocks.

‘The suspension and running gear are damaged beyond repair.

‘In short, the entire bike is a total loss.

‘Devastated is an understatement but in the middle of all this, we’ve been overwhelmed with support from the racing community and beyond.

‘That’s what keeps us going.

‘We are determined to rebuild, and once the team is fully fit again, we’ll be back doing what we love.

‘For those wondering what it will take to get us back on the grid, here’s a rough idea of the costs:

‘Chassis: £5,000–£12,000; Electronics (ECU, clocks, wiring) £8,000; Suspension: £3,000; Wheels, hubs, brakes £5,000; Ancillaries and other parts £3,000.

‘We’re also exploring ways we can honour every single one of you who has helped us during this difficult time - you are part of our journey, and we’ll carry your support with us when we race again.

‘We’ll keep you updated every step of the way.’

The pair are twice former Southern 100 champions, but now face a race against time to be on the grid at Billown with the meeting in less than a month away.

The team’s GoFundMe page can be found at https://tinyurl.com/ybrs64r5