V8s boss assures Hamilton 400 will go ahead

V8 Supercars boss Tony Cochrane says reports this year's Hamilton 400 in New Zealand is in trouble are wide of the mark.

The Waikato Times reported Hamilton 400 organiser Dean Calvert was in financial strife and the New Zealand city could lose its V8 Supercar event due to a lack of corporate and public support.

Calvert has reportedly put his $NZ1.69 million family home up for mortgagee auction and race director Steve Vuleta was quoted saying ticket sales for next month's event were "considerably down".

"The event is only safe provided ticket sales increase dramatically," Vuleta said in the report.

"We can't keep taking personal hits like this."

But V8 Supercars chairman Cochrane says there are no doubts as to whether this year's races in New Zealand will go ahead.

"V8 Supercars Australia guarantees every New Zealander that the ITM 400 in Hamilton will be another fantastic success in 2010, and a long way into the future," Cochrane was quoted as saying on speedcafe.com.au.

"The recent reports that the personal affairs of event promoter Dean Calvert are in any way linked to the event are extremely disappointing.

"Let me assure every person in New Zealand that there is absolutely no question that this year's event will proceed and once again be a terrific weekend in Hamilton.

"V8 Supercars Australia has a long-term and unwavering commitment to this event and New Zealand, which I can absolutely guarantee.

"The Hamilton City Council is also resolute in its support of the event both now and well into the future."

V8 Supercars has been racing at Hamilton since 2008, with this year's event scheduled to run from April 16 to 18.

- AAP