The chief executive of Australian-based touring car championship V8 Supercars has confirmed an agreement has been struck to land its first title sponsor since 2001, while the series has also extended its partnership with car maintenance company Armor All.
An as yet unnamed company has agreed a five-year deal with championship organisers to become the title sponsor of the series. The agreement, which Australian newspaper the Sydney Morning Herald reported as being a “multi-million dollar” deal, will become effective on July 1 and run until the summer of 2021.
“It’s done,” V8 Supercars chief executive James Warburton said. “The sponsor won’t be announced for another few months and the deal is not effective until July 1. It’s a great brand. It’s really exciting, so I can’t wait to unveil it.”
The company’s name is set to appear before ‘V8 Supercars’ in the official series title. Other Australian competitions such as the AFL Aussie rules football league, the NRL rugby league championship and the A-League football tournament have benefited from having title sponsors and Warburton hopes the Supercars’ naming rights deal will help elevate the series’ profile.
“If we want to be regarded in those leagues, we need a naming rights sponsor,” he said. “It’s a confidence thing.”
Meanwhile, Armor All will remain the series’ official car care products partner for the 2016 season.
The company has been in partnership with the championship since 2005 and enjoys naming rights to the qualifying event at each race weekend. Armor All will also continue to sponsor the Pole Position Award and the Top Ten Shootout.
The first event of the 2016 V8 Supercars season is currently ongoing in Adelaide and concludes on Sunday.