The announcement was made in pit lane at the Homebush street circuit today, where the team also revealed its final colour scheme for the year.
Murphy was stoked with the confirmation of his new deal.
“We've made significant progress in 2011 and I'm thrilled to be re-signing with one of the most exciting and daring teams in the V8 Supercar series,” Murphy said.
“2012 will be a huge season for usand it starts with a strong performance this weekend in Sydney.”
“Greg brings experience, supreme talent and a cool head to the driver's seat and we are really pleased to be working with him again next year,” Maher said.
“Pepsi Max is fully committed to this racing team and we're hugely excited about the prospects of what can be achieved in 2012.”
The Pepsi Max Crew used the extended deal announcement to launch the final livery of the Pepsi car for the 2011 season. It is the fifth different colour scheme for the car this year.
The artwork on the car was created by 19-year old Joshua Stark, who submitted the winning design in the Pepsi Max ‘Skin It To Win' promotion. According to the team, the new livery is the most intricate of the five designs that have been applied to the Pepsi Max Crew Commodore this season.
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