- Deal comes week after administrators sold Virgin Australia to Bain Capital
- Airline had been paying reported AUD$2m per year
- Repco also sponsors Shell V-Power Racing and takes over Bathurst 1000 title sponsorship next year
Australian automotive engineering and retailer company Repco has secured naming rights to the Supercars Championship for the next five years.
Starting from the 2020/21 season, Australia’s premier domestic motorsport series will be known as the Repco Supercars Championship until at least the end of 2025.
Repco takes over the naming rights from airline Virgin Australia, which confirmed in April that it had entered voluntary administration. The company, which was sold last week to US private equity firm Bain Capital, was already AUD$5 billion (US$4.1 billion) in debt prior to the coronavirus pandemic.
The financial terms of Supercars’ agreement with Repco have not been made public. The series’ deal with Virgin Australia was worth AUD$2 million (US$1.4 million) per year, according to SportBusiness.
The new deal will see Supercars and Repco build out an extensive marketing and activation campaign to engage with fans across Australia and New Zealand.
Repco already has a presence in Supercars as the series’ official automotive parts retailer and as the lead sponsor of Shell V-Power Racing, whose driver Scott McLaughlin has won the past two drivers’ championships. The company will also take over the naming rights to the Bathurst 1000 race from next season.
“We have a rich history with the sport, and together with the Repco Bathurst 1000, this is our most exhilarating step yet,” said Wayne Bryant, Repco Australia’s executive general manager.
“The Supercars family have shown in recent times how well they have all pulled together for the betterment of the sport and to provide race fans with a superior level of sports entertainment.
“We are really proud to be given the opportunity to become part of that family and work with them to bring the series to the fans that share our enduring passion.”
Virgin Australia’s deal dates back to 2016, when Supercars ended a year-long search for a naming rights partner by announcing an agreement with the company. It will maintain a relationship with Supercars as the series’ preferred airline partner.
“We truly appreciate everything Virgin Australia has done since coming onboard with their valuable support in 2016,” said Supercars chief executive Sean Seamer. “Supercars remains committed to supporting Virgin Australia as the preferred airline of the series and we look forward to working with them in the future.”