The inaugural Australian FIA Formula 4 champion will receive up to $250,000 in financial support from the Confederation of Australian Motor Sport (CAMS).
CAMS has revealed the unprecedented prize fund for the winner of the new Formula 4 championship will be used to help the champion take the next step on the motorsport ladder in an approved development category.
The winning driver, determined by the points standings at the end of the 21-race campaign set to begin in June/July next year, will receive the financial reward along with the champions trophy at the annual CAMS awards night.
Drivers who end the inaugural 2015 season in second, third and fourth spots in the championship will be offered Dunlop Development Series V8 Supercar tests.
CAMS CEO Eugene Arrocca has confirmed the F4 champion's prize will be supported by sponsors and will not be paid out in cash to the winning driver.
“This is a major commitment by Australian motor sport,” said CAMS CEO Arocca.
“We felt it was important to provide this support to confirm how serious CAMS is about developing motor sport in Australia and how we want Australia to have another Sir Jack Brabham or Alan Jones, just as we want to see Daniel Ricciardo rise to become a world champion.”
“In recent time CAMS has worked very closely with both the Australian Sports Commission and the Australian Institute of Sport to ensure that Australian motor sport has a clear pathway for junior talent backed by a robust development program.
“The advent of Formula 4 in this country and this developmental prize package that awaits the champion is another example of our level of commitment to the cause.
“Every national sporting body has a responsibility to invest in elite talent development; the flow on effects of such programs are indisputable and one of those is increased participation which in turn leads to more money coming back into the sport to be invested in more programs by the national sporting body.”
The championship's full calendar plus details of the series' control engine and tyre supplier are yet to be announced.