Motorsport: Sponsor secured for Hamilton V8s

Next years' New Zealand round of the V8 Supercars will be called the ITM 400. Photo / Getty Images

Hamilton's round of the Australian V8 Supercars has secured a three-year naming sponsor.

Independent hardware and building supply store group ITM has committed to sponsorship rights for the event, which will now be named the ITM 400.

Event director Steve Vuleta said the sponsorship deal was an important one for the race.

"To secure a naming sponsor of this significance provides increased commercial credibility," he said.

"To achieve this outcome in the current economic climate speaks volumes for the stature of the event."

The event, which is in its third year, has been set down for April 16-18 next year.

Ticket prices have been cut in 12 of the 13 price categories. General admission for all three days has gone down from $105 to $79, and a flexi seat admission which guarantees an unreserved grandstand seat is available for $95.

- NZPA