That has now been confirmed by the team, which says it is working on a replacement for the Subway-backed #76 Holden.
"PremiAir Racing wishes to confirm that effective immediately, Garry Jacobson and PremiAir Racing have parted ways," read a statement from the team.
"Jacobson’s contract has been officially ended this afternoon (21 June 2022), and PremiAir Racing is exploring its options regarding a replacement driver for the #76 Subway PremiAir Racing Supercar.
"Announcements regarding the new driver for the #76 will be made at the earliest possible opportunity.
"PremiAir Racing will be making no further comment regarding Garry’s departure and wishes him well for his future endeavours."
The news follows a tough Darwin Triple Crown for Jacobson who was involved in several on-track incidents during Sunday's two races.
As for his replacement, Zane Goddard and Kurt Kostecki have both been linked to the seat.
Goddard tested the car recently during a co-driver evaluation despite having a Bathurst 1000 seat with Tickford Racing.
Both Goddard and Kostecki have deals with Tickford for the Great Race, which could leave the Ford team on the lookout for an enduro driver.