The V8 Supercars Homebush Season Finale has finally been given the green light by the New South Wales government after months of negotiations.
When news emerged that the State government was considering a proposal to host the $80 million event in Sydney's Olympic Park precinct, green groups were immediately outraged, lobbying the Federal Department of Environment and Heritage for the event to be cancelled.
However, despite receiving submissions from a number of organisations, the Department rejected their claims, finally allowing the event to go ahead, although with organisers making some concessions.
The race promoters outlined a plan to help protect a number of endangered species which inhabit the area, including the Golden Bell Frog, stating that workers will don special attire to minimise the spread of biological contaminants.
New South Wales Tourism Minister, Jodi McKay, believes the event will provide a much-needed boost to the local economy.
"We're expecting it to bring $100-110 million, and there's also the spin off from tourists who come here to watch the race who stay," she said.
"Now begins the most significant planning, so a lot of the structural work, and there's still obviously consultation with residents in that process.
"But it is important that this race occurs because it is about stimulating the economy, it is about creating jobs, and it's also about enhancing the economic viability of Olympic Park."
A victim of the negotiations, though, was a planned fireworks display after concerns were raised about the local flying fox population.
Tickets for the event, to be held from 4-6 December, are expected to go on sale within a month.