The Holden Racing Team has confirmed that SP Tools will replace Toll as its major sponsor from 2014.

The new three-year deal was announced by the team at a function at the Surfers Paradise Street Circuit on Friday evening.

The SP Tools brand has been a primary sponsor in V8 Supercars since 2008 with the Stone Brothers Racing turned Erebus Motorsport outfit.

It will not being continuing with the Mercedes customer outfit next year.

The company’s logos have been seen on the factory Holdens for several seasons, with their branding having become more prominent partway through 2013.

Toll had confirmed last month that it would be ceasing its involvement with the Walkinshaw outfit after an eight-year tenure.

Promising that there are more sponsorship announcements to come ahead of the 2014 season, team owner Ryan Walkinshaw heralded the new SP Tools deal as “huge” for the team.

“When you lose a sponsor like Toll that has been backing you for a long period of time and are of a decent value it’s a bit daunting, but thankfully they gave us a lot of notice to search around,” he said.

“SP Tools have been onboard with us for a long time previously and it’s just the type of brand we want on our car.”

Walkinshaw stressed that the team’s upsurge in form this season, which has yielded two victories following an almost two-year drought, has helped commercially.

“If you’re at the front your media values are higher, there’s more people talking about you and people want to be involved with teams that are winning,” he said.

“They want their brands involved with a team that they know can go and win races, get pole positions and win Bathursts with.

“When it comes down to it that’s the most important thing. You can have the best media values on the planet but unless you’re winning you’re not going to get the big guys (sponsors) in.”

Walkinshaw has invested heavily in the team over the last 12 months, re-signing star driver James Courtney as well as luring Tim Slade to its currently Russell Ingall driven third car.

Additionally, former Red Bull team principal Adrian Burgess will join the squad as managing director next year, while Ford Performance Racing engineering manager Matthew Nilsson moves into the role of technical director.

The squad is also assessing the feasibility of running a fourth car in 2014, although is currently downplaying the prospects of such a move.