William Gossage died at his home in Bowdon, Cheshire on 9 April 1877, with less than £160,000 to his name.
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He retired from the business in the 1860s, leaving it to his sons Alfred and Frederick Herbert, and his astute business manager, Shirley Timmis.
The ICONIC committee was composed of experts and executives from racing and technical fields: Randy Bernard, William R. Looney III, Brian Barnhart, Gil de Ferran, Tony Purnell, Eddie Gossage, Neil Ressler, Tony Cotman and Rick Long.
Following his retirement from regular service with the Royal Air Force, Gossage agreed to be re-employed to assume the role of Commandant Air Cadets after the retirement of Air Commodore John Adrian Chamier.
In November 2006 Gossage was appointed coach of the Subiaco Lions Colts (under 19) team taking over from Scott Watters who became coach of Subiaco's league team.