The Confederation of Australian Motor Sport (CAMS) have today announced that they will work with V8 Supercars to develop a nationwide track strategy to ensure the sport continues to grow.
Ernst and Young recently released a report, commissioned by CAMS, outlining the contribution of motor sport to the Australian economy. The report determined that the growth of the sport is being hindered by the lack of tracks around the country.
CAMS CEO Eugene Arocca said that more tracks will enable the sport to grow significantly over the coming years.
“Without new tracks and continual improvements in the quality, safety and amenities of existing tracks, the growth in our sport will be restricted. In the last two years the number of licenced competitors and permitted events has grown significantly…We know that Australian motor sport contributes $2.7 billion annually to the Australian economy… there is little doubt this already significant figure would be higher if more venues existed.”
V8 Supercars have ambitious plans to grow the sport not just nationally, but internationally, with the governing body recently announcing that they will once again race in Asia. The V8 Supercars will be the headline act at the Malaysian Grand Prix in Kuala Lumpur from 2016.
The decision to host races outside of Australia and New Zealand is brilliant for advertisers of the sport, as it will be the first time a race will be held in Asia since the Championship’s 2005 visit to China.
It is a great opportunity to expand Supercars and Australian companies into the Asian market, as V8 Supercars CEO James Warbuton also expressed.
“This four-year contract is right for the KL City Grand Prix, right for our great V8 Supercars Championship and right for our race teams and right for our sponsors.”