Gold Coast tourism will be the beneficiary of the new deal struck for its famous motor car race following the loss of the IndyCar series in October.

A new deal confirmed on Saturday will see the burgeoning A1GP series racing on the Gold Coast in Indy’s stead for at least the next five years, receiving equal top billing with V8 Supercars.

The famous Gold Coast race is on the hunt for a new name after Indy officials abandoned the tourist strip after 18 years, in a blow to the government which tried desperately to get it to keep its Australian round.

Gold Coast Tourism’s Martin Winter said the adoption of the A1GP, while poorer and less established than its predecessor, was a major coup for the tourist region because of its global reach.

“Gold Coast tourism operators and local business will directly benefit from the anticipated interest in A1GP (and) … we are confident the series will generate continued economic growth well into the future,” he told AAP.

“The extended international television audience of the A1GP will directly tap into key markets where Gold Coast Tourism continues to maintain a major focus.”

A1GP, which commands a disputed 700 million viewers worldwide, began in 2005 and features a 23-car field pitting nation against nation.

Three rounds into the current 2008/2009 season, Australia sits in eighth position.

The Gold Coast 300, as it has been tentatively titled, will be held on October 22-25.

© AAP 2012

Enjoy sports? Enjoy a bargain? All Sports Online has your favourite sporting brands at up to 70% off. Online only, premium quality sporting goods and merchandise at discounted prices. Get a deal now.