Sydney Olympic Park Gears Up for V8 Supercar event

The New South Wales State and Regional Development Department has estimated that the Sydney Telstra 500 will generate more than $100 million for the state's economy over the next five years.

This weekend's inaugural race will be televised live throughout Australia and New Zealand, as well as distributed to more than 110 countries around the world on a live, delayed and packaged basis.

NSW Treasurer and State Development Minister, Eric Roozendaal said the NSW Government remains committed to supporting the event for the next five years, stating "we're starting to see the green shoots of economic recovery grow, and events like the V8s support growth in the state economy."

Treasurer Roozendaal described New South Wales as "Australia's events capital" and said hosting the V8 Supercars' grand final event further strengthens that reputation.

He stated "the Sydney Telstra 500 will not only be a showcase motoring event but an entertainment spectacle, using the entire Sydney Olympic Park precinct for the first time since the 2000 Olympics.

"This event is of international standing and is expected to bring considerable economic benefit to NSW, with more than $100 million anticipated to be generated over the next five years and 110 full-time jobs.

"This is an outstanding opportunity to promote Sydney as a tourism destination, while reinforcing our reputation for hosting significant major events."

V8 Supercars Australia Executive Chairman, Tony Cochrane, said he was delighted that Sydneysiders have embraced the Sydney Telstra 500 and was confident the event would easily break the projected 150,000 crowd.

Cochrane stated "we have experienced extremely strong ticket sales across the three day event, which has far exceeded our initial expectations.

"Most importantly, there has been solid interest both nationally and internationally, with an anticipated 15,000 tourists expected to visit Sydney specifically to attend the Sydney Telstra 500.

"Not only will the Sydney Telstra 500 be the biggest sporting event Sydney has seen in years but it will also offer world-class entertainment with some of Australiaâs hottest music acts performing at the Friday and Saturday evening concerts."

Friday night's concert will feature the Presets, the Potbelleez and Sneaky Sound System, while Saturday will include a special one-off reunion performance from Australian rock legends Cold Chisel, The Living End and Grinspoon.

The Sydney Telstra 500 runs from Friday 4th December to Sunday 6th December 2009.

Tickets are available from Ticketek on 132 849, www.ticketek.com.au

30th September 2008 - V8 SUPERCARS CONFIRMED FOR SYDNEY OLYMPIC PARK