Joining thousands of sun-drenched spectators at Symmons Plains yesterday, Mr Hodgman said his new government was keen to negotiate a renewal of the contract to keep the V8 Supercars coming to Tasmania.

A day before the existing three-year deal officially expires, Mr Hodgman officially began discussions with V8 Supercars chief executive officer James Warburton and said he would welcome a formal submission about what was required, including potential upgrades to the 2.4-kilometre circuit.

``It's an amazing event, very well supported by Tasmanians,'' he said.

``It's good for lovers of the sport and our economy and showcases our state across the globe. It's a wonderful event and certainly a majority Liberal government will want to keep this event in Tasmania into the future.

``When the new ministry is sworn in next week this is one of many issues we will discuss, but I will say with great confidence that this is the sort of thing we need in Tasmania.

``There is a role for government to play in attracting and supporting events like this. I want Tasmanians to have access to this sort of thing in our own state and not have to go interstate to see it.''

Mr Hodgman would not be drawn on the length of any potential contract or a timeline for discussions, but it is understood that the V8 Supercar calendar for next year has to be locked in by the end of June.