The incident on Friday afternoon happened during the the second practice session of the GT World Challenge Australia Series in which Schumacher is driving an Audi R8 LMS Ultra.

Schumacher was accelerating down Conrod Straight and hit a speed of 250 kilometres an hour when the right-rear tyre failed.

The Audi slammed into the wall and spun several times before coming to a halt, with Schumacher telling his team over the radio "Guys I've just had a huge crash."

Fortunately Schumacher avoided serious injury, but his team now faces a big task to get the Audi repaired so he can compete in the two one-hour races which will be staged over the course of the weekend.

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On their Schumacher Motorsport Facebook page the team conceded getting back on track in unlikely. It would be a huge shame given the amount of work that the Bathurst outfit has put into their campaign already.

"We are assessing the possibility of overnight repairs at the moment, but they are slim," the post said.

"Racing, it's a sport that when things go well the feeling is as good as life gets, but when things go bad, it's devastating to say the least. At this time we are gutted as a team.

"The main thing is Brad is OK and in good humour as always."

Schumacher actually finished up fourth fastest in the session which was red flagged after his crash.

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