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The Yamaha TZ 500 was a racing motorcycle produced in small numbers, which was used by a few private drivers from 1980 to 1982 in the motorcycle world championship. The basis of the commercial production racer was Kenny Roberts' racing machine from 1979, with which he became world champion.

The TZ series of commercially available racing machines, whose technology was first offered to selected works drivers and then to private drivers the following year, was very successful in the small classes of 250 and 350 cm³ displacement. For the half-litre class, Yamaha only decided to offer a 500 cc racing machine after the appearance of Suzuki and the successful production racer Suzuki RG 500, which was offered from 1976.

The basis was the OW 45 (1979) by Kenny Roberts. In terms of performance, 20 hp below the factory machine and equipped with a weak chassis, the TZ 500 was not destined to be a great success. The model series only comprised the years of construction 1980 (TZ 500 G) to 1982 (TZ 500 J)

The only victory in the class up to 500 cm³ displacement with a production racer was achieved by Dutchman Jack Middelburg. He won his home race, the Dutch TT, during the 1980 Motorcycle World Championship on a private TZ 500 with a Bakker motorcycle frame and telescopic forks derived from the Suzuki RG 500.