The V8 Supercars race in Hamilton has been extended for three more years, under new promoters
The Australian owners have taken over promotion of the event.
Hamilton was originally awarded the contract for seven years to end in 2014, but it will now stay on the city street circuit to at least 2017.
Current promoters Dean Calvert and Steve Vuleta of Caleta Streetrace Management, who brought the event to Hamilton in 2008, have pulled out due to financial problems.
V8 Super Cars Australia says it will invest more money on marketing and improving the event.
Director Geoff Jones says more entertainment, including music acts will be part of the three-day event.
Both V8 Supercars and the Hamilton City Council are exploring the possibility of changing the date of the race from April to November.