Electronics retail giant Dick Smith is the surprise sponsor of the returning Sandown 500 race in September.

Woolworths, the owners of the once iconic brand, announced earlier this year their intention to sell off the brand and close more than 100 of the company’s stores in Australia and New Zealand.

Speculation is growing that the new owners for the company could be announced as soon as next month and if this is the case one would assume they have been informed and approve of the sponsorship deal.

In March, Woolworths revealed the divestment and restructure of the Dick Smith brand had cost it $217 million.

Despite this the brand has performed well in 2011 - 2012 with a 2.3 percent rise in sales to $1.5 billion.

Tyson White, Dick Smith Merchandise Manager said that the company chose to sponsor the 500 as it was “a perfect fit” for Dick Smith.

“…it’s a truly national sport which is increasingly growing in popularity.” he said.

V8 Supercars CEO David Malone said it was great to see an Australian retail icon teaming up for a classic Australian motorsport event.

“Dick Smith has been a long time supporter of Australian motorsport and coming on board for a traditional event strengthens the relationship between Dick Smith and V8 Supercars,” Mr Malone said.

The return of the Sandown endurance classic comes after the failure of the event at Phillip Island.

“It’s great to return to the traditional circuit of the Australian Touring Cars, and what better way then to do it with a big name Australian company.” said Me Malone.

The Dick Smith Sandown 500 is a part of the celebrations of 50 years since the opening of the circuit, and patrons can expect a weekend fuelled with traditional Australian Motorsport with support categories such as Formula Ford, Touring Car Masters and Group A and C Touring Cars.

In Pit Lane will have a special preview program on the Sandown 500 in our new series starting September 4 on Melbourne’s C31.