Albert Park, Melbourne – A new deal was announced today between the V8 Supercars at the Australian Grand Prix for the next five years.
The deal between the Australian Grand Prix Corporation and V8 Supercars Australia will see:
– A five year extension for racing at the Formula One event at Albert Park
– â€œEnduranceâ€ or longer format racing which will require tyre changes and fuel stops
– New facilities including a pit building with garages and corporate hospitality suites
– $500,000 in prize money provided by V8 Supercars Australia
The new race will be called the ALBERT PARK 500.
The Australian Grand Prix will unveil its new trackside building in 2011 which includes a temporary V8 pit garage facility for re-fuelling and tyre changes previously unseen at Albert Park. The new facility located on pit lane, south of the F1 garages, will include additional corporate hospitality suites positioned above the V8 team garages providing a spectacular new vantage point for motorsport fans.
â€œOur passion for motorsport is not limited to Formula One,â€ says Australian Grand Prix Corporation Chairman, Ron Walker AC CBE. â€œWe are committed to bringing an exhilarating V8 Supercar race to as many Australians as we can, providing them with the best of motorsport action.â€
The 2011 race will be the first event as part of a five-year plan with the V8 Supercars changing from the current race format to endurance races on Friday, Saturday and Sunday of the event. The proposed format includes two 200km races and one 100km race with winners sharing in a total prize pool of $500,000.
â€œALBERT PARK 500 will set the stage for thrilling racing especially now there is $500,000 in prize moneyâ€ says Martin Whitaker, Chief Executive Officer of V8 Supercars Australia. â€œThe new V8 Supercars race format will have event goers and die-hard motorsport fans on the edge of their seats with the nose-to-tail racing of the V8â€™s around the Albert Park circuitâ€ he says.
Tourism and Major Events Minister Tim Holding said Albert Park 500 at the Australian Grand Prix would be a major attraction for motorsport fans and tourists from around Australia.
â€œThe popularity of V8 Supercars with Australian motorsport fans combined with the international prestige of Formula One is a formidable combination and one that will attract big crowds. The Australian Grand Prix just got even better with V8 Supercar action guaranteed at Albert Park for the next five years,â€ Holding said.