V8 Supercars will have a new naming rights sponsor from July 1 and will drop the 'V8' from the sport's name.
The competition will be known as the Virgin Australia Supercars Championship, after securing a lucrative sponsorship deal with airline Virgin Australia.
The sport is also dropping the 'V8' from the name, in favour of naming the sport, simply, 'Supercars'.
“We are delighted to welcome one of Australia’s most recognisable and premium brands as our naming rights partner for the next five years,” V8 Supercars CEO James Warburton said.
However, Warbuton confirmed that V8 engined will still be used.
“I can never foresee a time when a V8 power plant will not be part of our sport,” he said.