Newcastle is poised to host Supercars races next year with the city's council throwing its support behind the idea.
Supercars and the NSW government have been on the hunt for a new venue in the state after it was confirmed this year's Sydney 500 will be the final time the championship races at Sydney Olympic Park.
Gosford had been mooted as a venue but its council knocked back the opportunity due to cost and logistic issues.
Newcastle doesn't seem to have any such concerns, announcing it will put together a proposal for an event in partnership with the state government's events arm Destination NSW (DNSW).
Lord Mayor Nuatali Nelmes said council believed a Supercars race in the city could bring up to $50 million to the Hunter Valley region annually.
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"With a potential international TV audience in the millions, the event will showcase the city and our beautiful coastal setting in full glory in high summer," Nelmes said.
The council and DNSW have already discussed hosting the race on a street circuit taking in the city's CBD and foreshore areas.
However, final details of the track layout and other logistics are yet to be determined.
Supercars is believed to be close to finalising its schedule for next year with teams understood to have already received a draft calendar.
The race will be the season finale in 2017.
