The inaugural season of TCR Australia will feature a prize pot of $250,000, after the promoter, Australian Racing Group [ARG], offered a significant prize pot for Australian Motorsport.

ARG says that the approach is part of its “commitment to nurturing and developing the talent that competes in the category”.

It follows on from the announcement earlier in the month that the new series will be broadcast live on free-to-air television network SBS, with coverage on both Saturday and Sunday.

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The champion of the first season will receive a $100,000 prize, whilst second and third place will receive $50,000 and $25,000 respectively. The winner of the Michelin Cup for privateer entries will be awarded $25,000.

In addition, as part of the global TCR touring car period, an ‘emerging talent’ component will offer opportunities for ‘a selected driver’ within the global TCR platform.

“Prize money in motorsports is something that Australian circuit racing has never really done well,” said Matt Braid, Director of Australian Racing Group.

“This is a landmark announcement – revealing to the public these significant figures is something that doesn’t often happen – and we are very pleased to be bold and push the traditional boundaries.

“The $250,000 total prize pool is a big statement from the Australian Racing Group. We want to do motorsport differently, and this is just one of the first steps.

“This is fundamentally about re-investing in the sport to ensure it remains a sustainable pathway for those choosing motorsport as their career.

“While the overall prize pool is significant and there are, as always some conditions that need to be met to ensure eligibility, but this is all about investment in the future of our competitors that could help sustain a career or drive it further in the future.”

Garry Rogers Motorsport was one of the first teams to commit to the new series, and Barry Rogers said that it was one of many factors providing an allure to his outfit to join from the early stages.

“This is one of the reasons why Garry Rogers Motorsport has been very keen to be involved with TCR Australia because we know how passionate and dedicated the Australian Racing Group is to the sport, its teams and competitors,” said Barry Rogers.

“You can not base your whole racing program around the lure of prize money, however, it’s a great incentive for the drivers and teams to work towards.

“It could also be the difference between a driver or team continuing their journey, rather than falling into the financial traps that we so often see.

“I really can’t wait for the season to get underway and watch the future of the sport fight it out in this new championship.”

The first round of TCR Australia gets underway at the Sydney Motorsport Park on May 17-19.