The V8 Supercars’ season-ending event, the Sydney Telstra 500, looks set to be moved from its end-of-year berth on next year’s championship calendar before being dropped altogether, according to news reports.
An article in today’s Sunday Telegraph writes that next year’s event will be shuffled to a mid-season calendar berth in what is the final year of its five-year contract.
It is believed that the New South Wales state government is no longer willing to commit its major investment into the event, and it could possibly elect to terminate its agreement with V8 Supercars Australia ahead of next year’s final race.
In turn, V8SA is set to offer its end-of-year slot to organisers of the Gold Coast 600 event at Surfers Paradise. Should they not take up the offer, then V8SA will seek to sell the rights to the highest bidder overseas, at either one of its established venues or in a potentially new offshore market.
“The event will certainly go ahead this year and will be the final race on the calendar as scheduled,” a high-ranking, but unnamed, V8SA official told the newspaper.
“[But] it will not be the V8 grand finale next year,” they added. “That is a certainty.”
Despite bringing in major crowds at each of the previous three events at the former Olympic Games site of Homebush, the event has attracted criticism from taxpayers for being overly costly to organise.
Despite the government contributing funding to last year’s event and it managing to attract over 170,000 fans to the two-race spectacle, the event posted a $4 million loss for V8 Supercars Australia.