Bwin has extended its partnership with the MotoGP world championship after signing a two-year renewal with the series.

The betting company, which has been a MotoGP partner since 2004, will title sponsor the Czech Grand Prix and the Spanish Grand Prix at Jerez in 2012 and 2013, as well as having 'a highly visible presence' at the Misano, Mugello and Silverstone races.

Bwin will also have trackside advertising space at every Grand Prix. No financial details were released but the rights package certainly suggests a multi-million dollar investment.

Norbert Teufelberger, co-chief executive at Bwin.party digital entertainment plc, said: “We are proud to announce the extension of our partnership with MotoGP for another two seasons. MotoGP has become one of the most exciting sports events over the years and fits perfectly with the Bwin brand."

Pau Serracanta, managing director of MotoGP's commercial arm Dorna Sports, added: “The partnership between Bwin and MotoGP over the past seven years has always been associated with reliability, innovation and growth. We are looking forward to racing on together in the upcoming seasons."