The arrangement to secure the Supercars at the south-western Queensland venue is contingent on a $52.3m council plan to redevelop the Ipswich Motor Sport Park facility.

“Ipswich has a long-standing relationship with Supercars and will continue to do so as we embark on what will be the most significant redevelopment of a motorsport precinct in South East Asia,” said Ipswich City Council acting mayor Paul Tully.

The council's plans include an extended track layout, new corporate facilities, general improved amenities and new spectator areas.

“Looking into the future," councillor Tully said, "as the motor sport park expands further, the Coates Hire Ipswich SuperSprint and new high profile events will bring tens of millions of dollars in direct economic benefit and associated broadcast value.”

The 10-year Supercars deal is dependent on the redevelopment taking place, said Supercars Australia CEO James Warburton.

“Ipswich is one of our biggest and most popular permanent circuit events which the region is incredibly passionate about, and proud of,” Warburton said.

“Our fans love us coming to Ipswich, but we also want to see the circuit improved for all motorsport categories who use the track 365 days a year, and better facilities for our fans.

“We and all of Australian motorsport look forward to critical safety and facilities upgrades to bring the circuit to FIA standards, as part of the circuit realising its overall master plan.

“This agreement is subject to these safety and facility upgrades proceeding to enable Supercars to continue competing at Queensland Raceway.”

This year’s Coates Hire Ipswich SuperSprint is on July 28-30.