Nikon has renewed its naming rights agreement with the Surfer's Paradise SuperGP motor-racing event in Australia, which will feature V8 Supercar and A1GP races.

"The speed at which the IMG sales team was able to re-engage Nikon's involvement is testament to the strength of this iconic event," said SuperGP general manager Greg Hooton. "Nikon is globally recognised for setting new standards in product design and performance - a perfect fit for our world-class event, which was proved in 2008 and will again be proven this year."

•Supercheap Auto renews V8 Supercar sponsorship•Vodafone prioritises motorsport commitmentsJames Murray of Nikon Australia said: "Our experience with the event in 2008 was fantastic and we really wanted to be a part of it again although, early in the year, the global economic crisis saw us have to reassess our commitment. We were unfortunately unable to look at a full-scale sponsorship agreement, which wasn't fair to the event, but, in light of the situation now and with a more optimistic climate ahead of us, we have been able to rejoin with the event for 2009 which I know is something everyone at Nikon is very pleased about."

The weekend will see round eleven of the V8 Supercars Championship Series held alongside the opening race of the new A1GP season.