Supercars statement: Newcastle 500

Supercars and the NSW Government have both issued statements today following reports surrounding the future of the Newcastle 500.

Supercars released a statement early this morning: "Supercars and Destination NSW are aligned in their shared commitment to host the opening event of 2024 in Newcastle. 

“Discussions are ongoing with Newcastle City Council and we continue to work collaboratively to find a resolution swiftly regarding the long-term future of the event in NSW’s second largest city."

The NSW Government reiterated its support for the event with following statement: The NSW Government remains committed to the Newcastle 500.

The Minns Labor Government has provided funding to host the race in Newcastle in 2024 and we have the support of Supercars for that one-year extension before a longer plan is finalised.

The Government is working towards a five-year deal with Supercars and will work with the landowner City of Newcastle Council to find a way forward.

The future of the event now sits firmly in the hands of the Newcastle City Council.

The Newcastle 500, staged by Supercars Australia, has been popular event among visitors and broadcast viewers nationally since its introduction in 2017, generating strong visitor expenditure for the Hunter region.

The Newcastle 500 delivers significant benefits to the broader Newcastle economy, stimulating local businesses, creating jobs and attracting visitors to the city.

Earlier this year it was discovered the former Coalition government made massive cuts to the State Significant Fund, halving the budget for major events and tourism.

This has had a significant impact on available funding and is why one-year extensions have been agreed for several events – providing immediate certainty to organisers, staff and fans – before longer deals can be finalised.

Minister for Jobs and Tourism John Graham said: "In the current fiscal environment, the NSW Government has prioritised retaining iconic major events such as the NRL Grand final, Mardi Gras, the Newcastle 500, and Sydney Festival. These events and others are currently going ahead with one-year extensions while we work through the budget black hole we inherited.

"The NSW Government is committed to finding solutions for our major events that generate economic and social value, delivering community and legacy benefits to our state and we look forward to a resolution for the Newcastle 500."

The 2023 Repco Supercars Championship will resume at the Repco Bathurst 1000 on October 5-8.