The Sydney 500 V8 supercars series will change its venue for the next five years starting 2017. A recent announcement made by New South Wales Premiere Mike Baird confirmed a new location for the events: Newcastle. With breathtaking views of the city's landmarks, the event was forecasted to be a big help to the locality's businesses.

Last Tuesday morning, New South Wales Premier Mike Baird and Supercars CEO, James Warburton, recently confirmed a new venue for the V8 supercars series events for the next five months. As reported by Motor Sport, the street circuit will occur in Newcastle's East End where the audience and drivers alike would be able to enjoy a breathtaking view of the coastline as well.

It was also reported that the event would excite business opportunities in the locality. In fact, ABC Online revealed that the local economy would be able to garner a $57 million boost for its industry due to an estimated 80,000 turnouts for the V8 Supercars Coates Hire Newcastle 500.

Since 2009, the event had been held in Sydney. With the new location in place for a five-year contract confirmed by the locality, the V8 supercars fans would be visiting Hunter Valley region for the series until 2021. 

The Coates Hire Newcastle 500 was deemed to be the first time that a V8 supercars race to be held within the region, particularly a championship race. In fact, the Regional NSW, another major event, would occur in the same place as well. 

According to Baird, the breathtaking view of the venue would enable to the audience to see the city's best landmarks like Nobby's Beach and Fort Scarchley which would also boost the tourism for the town.

Within the next five years, the V8 supercars race will then be called Coates Hire Newcastle 500 where the final rounds are expected to garner 80,000 turnouts.

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