China the new frontier as Shanghai race gets green light
24/1/2003 15:35 (V8 Wire - Jason Whittaker) -
It's where East meets West...but China has never seen anything like this.
In what he described as the most significant announcement in the history of Australian motorsport, AVESCO Chairman Tony Cochrane is taking the V8 Supercar circus to the People’s Republic beginning in 2004.
Cochrane returned from China this morning with the surprising five-year, multi-million dollar deal to stage a championship race in Shanghai.
China’s richest city with a population of some 20 million people, Shanghai will likely host the series at a new $US240 million circuit currently under construction near the city.
Formula One’s governing body is behind the venue, with China’s first F1 Grand Prix also set to debut in 2004.
F1 has been working with China to stage a round of the World Championship for over a decade.
Two 747 freight jets will transport the entire V8 Supercar fleet and equipment, the biggest uplift in the history of Australian sport, Cochrane said.
The world’s most populous nation is AVESCO’s new frontier.
As well as the race, Cochrane clinched a six-year deal with Chinese free-to-air television to cover all rounds of the V8 Supercar Championship Series from this season.
Cochrane said today’s announcement was the culmination of 14 months of negotiations with the China Development Corporation.
“[The deal] represents an outstanding watershed in the evolution of the V8 Supercar category, which is now recognised as the leading touring car category in the world,” he said.
“I am very excited to find such excellent Chinese partners for this event who share our vision to bring this fantastic sporting icon to the people of China. There is a warm relationship that exists between the Chinese people and Australians.”
He said the Chinese knew "quite a bit" about the Ford verses Holden battle, and more would be done to promote the series before the first race.
The race and nation-wide television coverage is a potentially lucrative opportunity for V8 Supercar teams to increase their sponsorship value in Australia and throughout Asia.
“This is a great opportunity for Australian companies interested in establishing themselves in China to showcase their presence through sponsorship support of this event and the championship,” Cochrane said.
“Many of our existing sponsors will take advantage of the opportunity of partnering V8 Supercars into China and this opens the door for any other Australian businesses looking to forge relations in such an important part of the world.”
The Shanghai event joins the successful V8 International in New Zealand as overseas legs of the series.
South Africa and the Middle East are also in AVESCO's sights, Cochrane said.
The China leg could be slotted into the existing 13-round championship schedule in May, replacing the first of two events at Sydney’s Eastern Creek Raceway.
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