Sydney 500 extended for three more years

A new deal between the V8 Supercars and the New South Wales government will see the Sydney 500 street race extended for a further three years. The multi-million dollar agreement assures that the Sydney Olympic Park site at Homebush will host the finale for the category until at least 2016.

Newly appointed V8 Supercar chief executive, James Warburton, was instrumental in the negotiation of the deal, and has not ruled out the possibility of a twilight event in the near future. The announcement comes just under two months after Warburton signed off on a deal to secure the future of the Queensland events in Townsville, Ipswich and the Gold Coast.

Furthermore, in another boost for the Homebush event, the New South Wales government will have the option to extend the deal for a further two years if the event continues to meet their expectations. The Sydney 500 has already established a rich history in the sport, having hosted the final race in the Holden and Ford era last year, as well as the epic championship decider between James Courtney and Jamie Whincup in 2010.

V8 Supercars chief executive, James Warburton, affirmed the significance of the event on the championship calendar.

“Securing the Sydney 500 V8 Supercars Grand Finale at Sydney Olympic Park for at least another three years will mean motorsport lovers will be able to experience a truly exciting race in a unique venue which brings the precision of the V8 drivers to a challenging course that really delivers entertainment for the fans”.

Minister for tourism and events, George Souris, pointed out the benefits not only to sports fans, but for the New South Wales economy as a whole.

“The events are expected to attract more than 5,000 interstate and international visitors and 15,000 intrastate visitors and, over the three years, bring an estimated $50 million to our state. It will also be seen by millions of people throughout Australia and the world thanks to a live broadcast by Channel 7,” said Mr Souris.

“Besides providing a multitude of motorsports fans with a wonderful experience, these two events will also provide many jobs and inject millions of dollars into NSW,” continued Minister Souris.

Along with the official V8 Supercar test day and the Bathurst 1000; Mr Souris expressed his delight at the fruitful relationship between the New South Wales government and the V8 Supercars.

“Together with the Bathurst 1000, NSW now has a trifecta of the most impressive line-up of motorsport events in the country.”
Gabrielle Upton, Minister for Sport and Recreation, emphasised the importance of the V8 Supercar category to the New South Wales sporting landscape.

“Sydney Olympic Park is recognised around the world as Australia’s premium sporting precinct and the decision to continue to stage the V8 Supercars Championship finale there is a win for the fans and the NSW economy,” Minister Upton said. “The staging of a new event in the heart of Western Sydney at Sydney Motorsport Park for the next three years is great news.”

This year will mark the fifth edition of the Sydney 500, with the inaugural event held at the conclusion of the 2009 V8 Supercar championship season.

The Sydney Olympic Park precinct will once again stage the final event of the year on the 6th to the 8th of December this year.