The Super V8 race in Hamilton has been extended for another three years and the Australian owners have taken over the promotion of the event.
Hamilton was originally awarded the contract for seven years to end in 2014, but it will now be held on the city street circuit to 2017 and possibly beyond.
The current promoters, who started the event three years ago, 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 Super cars and the Hamilton City Council are exploring the possibility of changing the date of the race from April to November, although next year's event will remain in the autumn.