The Tasmanian government has secured the V8 Supercars event at Symmons Plains through 2019 under a new $6.125 million deal.

The state’s commitment includes $2 million for upgrades to the 2.41km Launceston facility.

Existing event sponsor Tyrepower will continue to back the event under the new deal.

“We are delighted Premier Hodgman and the Tasmanian Government have continued their incredible support of V8 Supercars and motorsport in Tasmania,” said V8 Supercars CEO James Warburton.

“This five-year contract will ensure Tasmania retains the economic benefits of the biggest annual event in the state and, critically, includes long overdue circuit upgrades which creates a legacy for all motorsport.

“It’s vitally important that V8 Supercars plays its’ part in working with Government and CAMS to ensure modern permanent facilities are provided for all levels of motorsport.”

Next year’s visit to Symmons Plains is again slated for late March, which will likely see it as the third championship event of the season after Adelaide and Albert Park, which is poised to become a points-paying meeting for the first time.

Symmons Plains has held 42 Australian Touring Car Championship/V8 Supercars Championship events since its debut on the calendar in 1969.

Despite missing out on a round between 2000 and 2003, only Melbourne’s Sandown Raceway has hosted more championship events with 44 to its name.