V8 Supercars closes book on Sydney Olympic Park street circuit race


Seven years after its launch as a V8 Supercars attempt to break into Sydney’s sports market, the Olympic Park Street Circuit event is on the verge of fading away.

V8 Supercars general manager James Warburton announced on Tuesday that the event on the streets of Homebush would not continue as part of the championship beyond this year.

Last hurray: the round of the V8 Supercars at Sydney Olympic Park will end this year.Credit:Getty Images

The Sydney 500 has been the season finale for every year since its inception in 2009.

At the time, the event was considered the V8’s best chance to land a flagship event in Australia’s largest city. Next, NSW Premier Nathan Rees justified a government spending of $ 30 million for the event, claiming that 15,000 visitors interstate and overseas would come to town for the weekend.

A 2010 report by the Auditor General of New South Wales concluded that the government had not correctly estimated the costs of the event and that the benefits were not as high as expected.

Despite this report, the agreement between the NSW government and V8 Supercars was renewed for three years in 2013. In a brief statement Tuesday, Warburton said a new agreement to continue the event had not been reached.

“We are continuing discussions with Destination NSW on the best location for 2017 and beyond, but we believe the time has come to leave Sydney Olympic Park,” he said.

Gosford on the central New South Wales coast has been raised as a possible destination for the event from next year.

V8 Supercars have announced that this year’s Sydney 500 will be held Dec 2-4 to avoid a scheduling conflict with other events at the venue.

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