Iconic Australian company Telstra has been revealed as the naming rights sponsor for the V8 Supercar series new flagship event around Sydney's Olympic Park this December.

Australia's leading media communications company, Telstra's acquisition of the naming rights of the grand finale for the next four years was made confirmed by the chairman of Homebush Motor Racing Authority John Conde, during the official event launch at Martin Place. It followed an historic early morning crossing of the Sydney Harbour Bridge by six V8 Supercars in full race mode to celebrate the inaugural Sydney Telstra 500.

V8 Supercars Australia Chairman Tony Cochrane said Telstra's partnership in the blue chip event was a great coup for Sydney's signature event.

“Telstra is one of Australia's best known brands and to have this iconic Australian company put its name to the Sydney Telstra 500 is a glowing endorsement for the event," he noted, "The Sydney Telstra 500 is an annual event of international calibre and one that must not be missed.

“Telstra is a long-term partner of V8 Supercars through BigPond's platform sponsorship of our sport, and an integral partner in our business through its world class online services. We are absolutely delighted to have Telstra on board.”

Telstra put its name to the race weekend as a leading part of its portfolio of sports, arts and community sponsorships and an investment in a uniquely Australian sporting event.

“Our support of the new Sydney Telstra 500 race is a further commitment to the investment we have made in bringing V8 Supercars to more fans across this country and across the world,” managing director Justin Milne said, “Through BigPond online and on mobile, we will be taking V8 Supercars to a potential audience of more than 9.7 million.

“BigPond has been involved with V8 Supercars for more than six years and, in that time, we have been proud to bring fans of the sport even closer to the action with our technically innovative and award-winning online site and our rich interactive mobile site.”

Telstra's backing of the event complements the commitment of the New South Wales government, which is providing Sydney Olympic Park and funding the construction of the facilities for the next five years.