Holden's Rick Kelly may be reprimanded on Monday but is unlikely to lose his V8 Supercar crown following a drama-packed season finale at Phillip Island.

Kelly's title remains in limbo after series runner-up Craig Lowndes and his Ford team protested over an incident involving the two title rivals in Sunday's final race.

Ford was furious over a collision involving Kelly, his brother Todd who was leading the race, and Lowndes.

The collision ended Lowndes's title hopes as his Ford was hopelessly damaged and he was repeatedly forced into the pits for wheel changes.

Rick Kelly was given a pit lane drive-through penalty for initiating the incident, but Ford protested that the punishment for bumping Lowndes did not fit the crime.

Kelly was able to overcome the penalty to finish 18th in the race while Lowndes limped home in 29th position.

They had gone into the final race of the series level on points and Kelly emerged a 37-point series winner to receive the trophy amid cheers and jeers.

Race stewards initially decided the incident had been dealt with by the drive-through penalty, but furious Ford officials took the matter to the Confederation of Australian Motor Sport (CAMS).

"The penalty was based on a determination by the stewards that there was a breach of the rules in terms of careless driving by Rick Kelly," said chief steward Steve Chopping.

"After some further consideration the matter was further considered by the IPO of the race.

"He considered a great deal of data, in car footage and other things concerning the in-car activities of car 15 (Kelly) and car 888 (Lowndes) and whilst the IPO investigated those things Triple Eight lodged a protest against the penalty imposed in the race.

"Now that the IPO has determined that the matter doesn't warrant being referred to the stewards for further penalty the stewards will now refer to the hearing of the Triple Eight protest."

CAMS will hold a hearing at midday on Monday at a venue to be determined.

Punishments for Kelly, if any, could range from time penalties, exclusion from the race, deduction of championship points or fines.

However, it is extremely unlikely the stewards would issue a penalty that stripped Kelly of the title.

V8 Supercars Australia will be looking for a quick resolution to the drama with the series awards dinner to be held at Crown Casino on Monday night.

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