The South Australian Government has committed $21 million to the revival of this year’s Adelaide 500.

A total of $3 million of that has been assigned to buy back assets sold off by the previous Liberal Government.

The significant financial investment coincided with news that tenders will open this week, offering local businesses an opportunity to play their part in the event’s return.

Tenders will open for the supply of temporary grandstands, hospitality platforms, portable toilet hire, pedestrian overpasses, on-ground marquees, fit out, furniture, site fencing, ticketing services, security services, greenery and timber decking.

Other tenders include hospitality air-conditioning, hospitality fridge hire, temporary shade sails, track resurfacing and civil works, cleaning and waste management services, pit pavilion air-conditioning, grounds maintenance, and catering rights and supply.

Details regarding ticket sales and musical acts are set to be announced soon.

“Momentum is building for the return of the Adelaide 500 and the issuing of tenders is yet another tangible sign the race is coming back,” said South Australian Premier Peter Malinauskas.

“This is also a great opportunity for local businesses to tender for work, which will help support jobs and generate local economic activity.

“That’s why this event is so much more than a car race – it’s a generator of jobs and a driver of economic activity.”

The full make-up of the South Australian Motorsport Board, which has been tasked with the organisation of the Adelaide 500, has not yet been announced in full.

The board is chaired by Andrew Daniels while Mark Warren is chief executive.

“It’s hard to believe it’s only six months until the great race returns,” said Warren.

“We’re working to a tight timeframe and we can’t afford to waste a second, which is why it’s exciting to begin the process of issuing tenders.

“This also presents a massive boost to the local events industry, who have been starved of major events over the past couple of years.”

The South Australian Government is in the throes of amending the South Australian Motor Sport Act 1984 to “re-establish motorsports in South Australia more broadly and to inject the skills and experience needed to deliver further growth in the sector.”

This year’s Adelaide 500 will be held from December 1-4.