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  Defending champion Jamie Whincup believes the new endurance race, to be known as the Albert Park 500, will help lift V8 Supercars both locally and internationally.

V8 Supercar drivers have given the newest Albert Park deal the thumbs up.

Defending champion Jamie Whincup believes the endurance race, to be known as the Albert Park 500, will help lift the sport's profile both locally and internationally.  The revamped event will be run over three days during the Australian Grand Prix with a prize pool of $500,000.

"In the past we have only really done a bit of a demonstration race," Whincup says.  "For us proper racing is pitstops and long-distance racing and that's what's going to happen next year."

Ford Performance Racing's Mark Winterbottom says all drivers welcome the event.  "The only negative about this race in the past was it wasn't long enough and that's been fixed," he says.  "The pitstops will make it more exciting.  It will be a highlight of the year."

The Bathurst-rival Albert Park 500 will move to a three-race format during the Australian Grand Prix, a move Whincup says is important.  "It's an important round for us as teams because it's extremely important for the corporate brands that we represent," he says.

"We've got hundreds of thousands of fans but this type of event in particular has a very different type of fan base.  "There is a lot of glitz and glamour with this event."  Jason Bright says V8 Supercars will be able to put on a proper show.

"It's a great thing for V8 Supercars.  "We feel like part of the show now.  "It's always been a bit of a challenge for the teams being out the back and coming into pitlane to set up very temporarily for each session.

"Being able to set up properly and have our boom setup and do the fuel and tyre stops that we enjoy at each race meeting does throw a pretty big dimension into it.  "It's much better for the fans having that aspect."

Despite the three-race format teams will not receive any championship points.  Next year's race will be the first as part of a five-year plan to change from the current race format to endurance races on Friday, Saturday and Sunday.

Friday and Saturday will be 200km events with a final 100km race on Sunday.  Australian Grand Prix Corporation chief, Drew Ward, says some other support events will be juggled to fit in the new timetable for the V8s.

Teams will get their own temporary garages on pitlane, separate to the Formula 1 garages.  Ward says apart from garages, the new pitlane buildings will also have room for corporate sponsors.  "It will be a signature event, just like Bathurst," he says.

They will take four weeks to build and two-weeks to dismantle and be similar to the buildings used for the Homebush race in Sydney.