THE Adelaide 500 has a new name for 2019 — the Superloop 500.

Australian telecommunications company Superloop purchased the rights for Adelaide’s premiere racing event for three years starting with next year’s edition from February 28 February to March 3.

The contract was announced by Tourism Minister David Ridgway on Thursday.

“Over 20 years, the Adelaide 500 has become Australia’s largest domestic ticketed motorsport event, injecting millions of dollars into the state’s economy,” Mr Ridgway said.

“We are delighted to have secured Superloop as the event’s new naming rights sponsor and look forward to a successful partnership that will continue to deliver a world-class race.

“Superloop has a strong local footprint in Adelaide with exciting plans for future expansion.”

Chief executive Drew Kelton said the partnership was the company’s next step in its national expansion.

“Superloop has a solid base in Adelaide and we anticipate the Adelaide workforce will significantly increase as Superloop Home Broadband ramps up,” Mr Kelton said.

It has been a swift rise for the firm, which only established in 2014, but now has revenues in excess of $125 million — growing by more than 100% last year alone.

Superloop has optic fibre networks across Australia, Singapore and Hong Kong.

In September, Tourism Minister David Ridgway hinted that a new sponsor would be unveiled ”soon” during a Budget Estimates hearing.

The 500 was held without a naming rights sponsor last year after Clipsal ended its 18-year association with the motor race.

Previously, the former State Government declared it would hold off a new name sponsor until it received “an offer we can’t refuse”.

This year, race organisers celebrated the best Sunday attendances in 10 years, thanks to mild weather, the sold-out Robbie Williams Sunday night concert and free entry for children aged under 14.

Next year’s event will be without the Stadium Super Trucks and Improved Production Racing categories but the Aussie Racing Cars category will return alongside Super2, Touring Car Masters, Carrera Cup, Audi R8 LMS Cup and SuperUtes racing.

Originally published as New Adelaide 500 name sponsor revealed

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