Five-year, $57 million Newcastle Supercars deal confirmed

New South Wales Premier Mike Baird and Supercars CEO James Warburton confirmed the news in Newcastle this morning, making it official that the Coates Hire Newcastle 500 will replace the outgoing Sydney 500 as the season finale for the next half a decade.

The race will be staged on a street circuit in the town’s East End, with a picturesque setting surrounded by coastline.

According to Baird, the event will bring $57 million to the Hunter Valley region.

“The Hunter has thousands of Supercars fans who now have an event to call their own,” said Baird.

“The Coates Hire Newcastle 500 will be the first Supercars race ever held in Newcastle and is another major event secured for Regional NSW.

“It’s a picturesque course that takes in some of the city’s best landmarks, including Nobby’s Beach and Fort Scratchley.

“The race is expected to inject more than $57 million to the Hunter region over the next five years, and attract 81,000 visitors from around NSW.”

The inaugural Newcastle 500 will be held in November next year, although no specific date has been confirmed.

“The Coates Hire Newcastle 500 will be a spectacular event that will showcase Newcastle to a huge national and international audience and be a fitting finale to the Virgin Australia Supercars Championship,” added Warburton.

“I want to thank Premier Baird, Minister Ayres, Destination NSW CEO Sandra Chipchase, Newcastle City Council and Coates Hire for their support to help create what will be an unforgettable event for Newcastle.”

Newcastle sits 160 kilometres north of NSW’s capital Sydney, and is the state’s second most populated city.