Supercars will remain on the Gold Coast for at least the next two years with the city signing a new agreement to keep the motorsport spectacle here.
It comes ahead of the first GC500 since 2019 this weekend with thousands of people descending on the Glitter Strip.
It’s not clear how much the new deal will cost, but the event is expected to pump millions of dollars into the local economy.
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This year’s event alone is tipped to inject $42 million into the city.
Preparations for this weekend’s event are ramping up with major road changes coming into effect on Monday.
Lanes on the Gold Coast Highway are being reduced to just one lane northbound, one lane southbound and one emergency lane.
That will remain in place until next Tuesday.
Several roads in Surfers Paradise in Main Beach that are along the track are now one-way only.
These include Breaker St, Cable St, Ferny Avenue, Hill Parade, Main Beach Parade, Surfers Paradise Boulevard and The Esplanade.
Special event clearances and parking restrictions are now also in place.
