V8s signs multi-million dollar deal

The V8 Supercars championship is set to announce a new multi-year multi-million dollar naming rights sponsorship that will kick off mid-season.

The sponsor’s identity is still secret. However, the deal means the category will have its first over-arching major corporate sponsorship since the end of its backing from Telstra and some of its brands in 2012.

It is being touted by V8 Supercars CEO James Warburton as proof of the success of its controversial Fox/10 television deal, while also providing an added income stream to teams.

In a wide-ranging interview to mark this weekend’s start of the 2016 championship at the Clipsal 500, Warburton also confirmed the new Gen2 technical regulations would kick off as scheduled next year and poo-poohed any chance of the international GT3 sports car class eventually becoming the basis for the V8 Supercars.

“We will be unveiling a naming rights sponsor from the start of the financial year on July 1,” Warburton confirmed.

“It’s a massive brand and a five-year deal. It is going to be fantastic for the category. We are absolutely delighted to have achieved it. We will unveil it later this year,” he said.

Warburton said the deal would get V8 Supercars “ back to the commercial level enjoyed in sunnier economic times”. He said it was “critical” for the category and the confidence around it.

The search for a new naming rights backer had taken time and been conducted carefully, the V8 chief stated.

“We have had plenty of approaches and plenty of discussions but it’s actually about marrying the right brand and the right level of integration and the right company.

“We have been very specific about who we go after… This is a really big step,” he stated.

The Gen2 rules open up the category to engines other than V8s and body styles other than four-door sedan. In concert with that the name of the category will change to simply, Supercars.

The objective of the Gen2 regulations was to ensure the current manufacturers stay onboard and also give new manufacturers incentive to join. But with Ford pulling out at the end of last year there are three current manufacturers – Holden, Nissan Volvo – none of whom have committed to racing in the category beyond 2016.

Nor have any new manufacturers been announced. This has led to an expectation that Gen2 might be delayed. But Warburton rejected that.

“Yes it will [launch in 2017],” he said.

“Don’t forget with Gen2… participants can arrive in 2017 with the exact same set-up and car as they are running in 2016. And we didn’t think there would be a dramatic change to the field, in terms of the powerplant or the body style.

“It is going to take time, but the ability for manufacturers – whether participating or new ones as they emerge – is that they can phase in the new models or powerplants and showcase where they are heading.”

Warburton said he strongly believed Gen2 was necessary to retain the existing manufacturers but stopped short of guaranteeing they would all stay involved.

“I am confident that the discussions have been positive but ultimately there are no guarantees in life,” he said.

He was more bullish about new manufacturers eventually signing on with the championship.

“I think 2017 is early, but that is when the openness of the category begins,” he said.

The possibility that GT3 might eventually become the basis for Supercars has been a discussion point for some time – or that the category will eventually become the more popular here. Supercars has bought into the category by taking over the promotional rights to the Bathurst 12-hour. It was at that event this year that the outgoing head of Audi Sport Customer racing, Romolo Liebchen, put the issue in the spotlight by telling motoring.com.au that Australia should adopt GT3 as its premier racing formula.

Liebchen stated it was clear that Supercars would not survive alone because the market was too small and that it should align with an international formula.

But Warburton dismissed Liebchen’s comments as commercially motived.

“He was the Audi customer relations boss who sells cars to customers, so I think we have to be very, very careful about that.

“The manufacturing involvement in GT3 is exactly that. They require wealthy teams to buy cars and the engines get sent back to Audi for servicing.

“I think what we have got here is a mainstream sport, what those programs [GT3] are about is mainly competitors, low levels of spectator and interest and in most places around the world they are not the premier category.

“It’s a simplistic view and not even in the ballpark of being right,” Warburton stated.

motoring.com.au’s Bruce Newton is also a freelance contributor to the official V8 Supercars website.