Seven to broadcast V8s from 2007

The new deal will see the country's premier touring car series return to the channel, having been the broadcaster for the nation's touring cars before Network Ten's ten year association with the V8 Supercar series from 1997 to 2006.

Seven says the series will benefit from increased live coverage in what they believe is the largest broadcast rights deal for any touring car category in the world.

Earlier this week, when announcing they were withdrawing from making an offer for the series' rights, Network Ten said the deal "made no commercial sense".

"It's an extraordinary deal for us. This agreement is the biggest in the history of motorsport in this country," V8 Supercars Australia chairman Tony Cochrane said.

"The Seven Network is a leader in Australian television. David [Leckie] and his team share the same vision we do - that V8 Supercars is one of Australia's hottest sports."

Chief Executive Officer of the Seven Network, David Leckie, was happy to announce the return of Australian touring cars to Seven: "Seven is back with the V8s. Today represents a significant development for us. Seven and V8s have a rich history.

"We are pleased to be the new partner for V8 Supercars in Australia, we are going to create great television coverage and we are looking forward to working with V8 Supercars, the drivers and the teams as we continue to build the awareness of this great sport across our programmes."

Seven's announcement still leaves them with the balancing act of juggling their V8 Supercar commitments with those of Aussie Rules football, which they will begin broadcasting again next year after a break of five years.

The balancing act is further complicated as they will share the football rights with Network Ten, the departing broadcaster of the V8 Supercar series.