In conjunction with the deal to be the new backer of the season-opener, now known commercially as the ‘Thrifty Newcastle 500', the brand will also become Supercars' Official Hire Car Partner for the next two years.
Thrifty Vice President, Eoin MacNeill, said, “We are excited to partner with Australasia's leading touring car category, the Repco Supercars Championship on this new multi-year deal.
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“We can't wait to get behind next year's opening event of the Championship on the streets of Newcastle as the new naming rights partner of the event.”
Supercars CEO Shane Howard added, “I'd like to thank Thrifty for coming on board with Supercars for the coming years.
“The most recent economic assessment report found that on average, the Newcastle 500 delivered $36.2 million annually, making it one of the most lucrative events to partner with on the calendar.
“To have an internationally recognised brand like Thrifty on board as naming rights partner for one of our marquee events is great news ahead of our 2023 Championship.”
The Newcastle 500 was last run in November 2019, before COVID-19 restrictions prevented an event from being held at the Newcastle East Street Circuit for three full seasons.
It had hosted the season finale since its debut on the calendar in 2017 but has now effectively swapped with Adelaide, which was initially to move to the back end of the calendar for reasons of COVID precautions.
After a season away following its axing by the previous state government, the Valo Adelaide 500 makes its return next month as part of a new, five-year deal, while the 2023 Newcastle 500 takes place on March 10-12.