The South Australian Government has backed plans to bring a Supercars event to the all-new The Bend Motorsport Park next year.

The state-of-the-art $100 million circuit, currently under construction, will receive $3 million in funding from the SA Government over a three-year period, following the release of the state budget today.

Circuit owner Sam Shahin has signed a memorandum of understanding with Supercars in view of hosting a first event next year, which is expected to take place in August.

The event would be the second Supercars event in South Australia joining the annual Adelaide 500 season opener.

Built to FIA Grade 2 specification, The Bend Motorsport Park features a 7.77km circuit, including four different track layouts and a 50 room hotel onsite.

Construction of the facility is expected to open in January next year.

“A second championship event in South Australia would be absolutely outstanding given the incredible story of the Adelaide 500 over the past two decades,” Supercars CEO James Warburton told the official championship website.

“Supercars has long supported the construction of the new facility at Tailem Bend and the Shahin family in building this new circuit for all forms of motorsport.

“Subject to agreement with South Australian Tourism approval we would very much look forward to adding Tailem Bend to our 2018 racing calendar.”