V8 SUPERCARS RETURN TO NEW ZEALAND FOR AT LEAST FIVE YEARS

V8 Supercars will race in New Zealand for at least the next five years with the announcement that the Championship will return to an upgraded and new look Pukekohe Park from 2013.

This is a great announcement for our New Zealand fans and we would in particular like to thank the Mayor of Auckland Len Brown and the Prime Minister, John Key, for their valuable assistance in moving this forward.

It was announced in New Zealand today that V8 Supercars, the Auckland Tourism Events and Economic Development (ATEED), New Zealand Government, Auckland Council and Counties Racing Club had agreed to a multi-year arrangement.

Following an extensive due diligence process of more than six months, the agreement spans five years with an option for another five. All parties will invest in the event and upgrades to the circuit. The financial terms are commercial in confidence.

V8 Supercar Chairman Tony Cochrane said the decision meant New Zealand would continue to benefit from one of its biggest annual events while an upgraded Pukekohe Park would be an ongoing asset for New Zealand motorsport all year.

“We are delighted that V8 Supercars is able to continue in a market that is integral to our Championship and New Zealand,” Mr Cochrane said.

“Pukekohe is an ideal and proven location. The circuit has an amazing history and heritage in New Zealand: for example, it was the venue Greg Murphy made his own with three victories, venue of the New Zealand Grand Prix and has hosted the likes of Stirling Moss and Jackie Stewart.

“It is a terrific layout, has plenty of available space and is just 35 minutes from the Auckland CBD and even closer to the international airport. Pukekohe is easily accessible from the highway and a short drive from the Auckland CBD, as well as having a direct rail link.

“With improved spectator and corporate facilities V8 Supercars has no doubt it will again be New Zealand’s premium motorsport precinct, and a boost for New Zealand motorsport year-round.”

As part of the agreement V8 Supercars will assume the financial risk of the event, as the Promoter, with funding assistance capped. This is to negate the issues that dogged the successful Hamilton event due to the former promoter.

“This is a total commitment from all parties,” Mr Cochrane said. “Then problems of the Hamilton event were unfortunately inherited by the Council and V8 Supercars. The extensive due diligence taken by all parties in this agreement is the right way forward from the outset.

”The benefit to Auckland and New Zealand is clear. ATEED and MED have done their homework and an excellent job over several months so all parties enter the agreement with eyes wide open.”

Substantial improvements will be made to the circuit proper. These include:

·        New safety barriers and debris fencing

·        Resurfacing of much of the track

·        A new chicane on the back straight

·        Additional overhead pedestrian bridges

·        Over-track signage

·        Enhanced viewing areas

·        A general upgrade of the venue’s overall presentation

Infrastructure from the Hamilton event will be transported to Pukekohe as part of the improvements. This infrastructure will be re-engineered and fitted at the circuit permanently for other events throughout the year.

For further information:

Cole Hitchcock | General Manger - Media and Communications | D +61 7 5630 0315
M 0412 743 097  |  F +61 7 5630 0338 |  P +61 7 5630 0364 |  www.v8supercars.com.au
PO Box 607, Southport BC, QLD, 4215