The Seven Network has signed a new broadcast deal with V8 Supercars barely a month ahead of the 2013 season start in Sydney.
Financial details of the new deal, which extends the relationship for another two years, were not released but V8 Supercars was expected to struggle to get any bidding tension, with Nine Entertainment and the Ten Network focusing instead on the more important cricket broadcast rights, which are also up for grabs.
The agreement covers V8 Supercars championship season and the Bathurst 1000.
“This is an excellent outcome for the sport and fans,” V8 Supercars chief executive David Malone said.
“The extension gives great continuity heading into a very exciting 2013 season. Seven has been a great partner and we look forward to their ongoing commitment to the highest level of coverage and promotion,” he said.
V8 Supercars is majority owned by Archer Capital which paid $180 million for 60 per cent of the business in 2011. Its other shareholders include the V8 teams with 35 per cent and Tony Cochrane who owns 5 per cent.
V8 Supercars will continue to produce its own broadcast coverage for the Seven Network and their other broadcast partners.