V8 Supercars Australia will announce in excess of $30 million in new deals for the sport in the next 30 days, the equivalent of $1m for every day of October being injected through six new 'super deals' negotiated and agreed in recent months.
Beginning this Friday at the Supercheap Auto Bathurst 1000, the governing body will start rolling out the announcements that include $9m in new sponsorship deals and $21m from new long-term contracts with permanent Australian circuits. This is on top of the existing sponsorship and event agreements that has V8 Supercars positioned as a power in the Australian sporting landscape.
They also come on the back of announcements that two new events – the Sydney 400 at Homebush and the Townsville 400 – will be introduced to the sport in 2009.
“This sport has never been in a stronger position,” said V8 Supercars Australia chairman Tony Cochrane, “We are virtually debt-free with a strong financial future in long-term contracts which enables V8 Supercars Australia to plan our future with great confidence.
“These new deals show the great strength of the business and its enormous popularity in Australia, New Zealand and other parts of the world. The fact that major corporations see great benefits in associating with our sport is proof of the growing brand power and the television presence of V8 Supercars.”
The additional contracts will drive the sport well into the next decade. All are long-term agreements.
“I keep hearing the comments regarding Holden and Ford downsizing their funding,” Cochrane said, “While this is correct, the truth of the matter is that V8 Supercars still represents the biggest sponsorship investment for both manufacturers.
“In season 2009, V8 Supercars Australia will take control of two more events in the Sydney 400 and the Townsville 400, with our events arm set to control up to six of our championship rounds.”
V8 Supercars Australia currently enjoys strong commercial relationships with BigPond, XXXX Gold, Seven, MTAA, Armor All, Fujitsu, Jim Beam, Xbox, Fuso, Bundaberg Rum, Laurence and Hanson, Kenworth, Dunlop, Re-Car, Spies Hecker and Britax, and has long-term contracts with the Clipsal 500 in Adelaide, the New South Wales government, Queensland government, Australian Grand Prix Corporation, Hamilton city council, Northern Territory government, Bathurst regional council, the Indy 300, Bahrain International Circuit and Tasmanian government.