Channel Seven will continue as host broadcaster of the V8 Supercars championship for the next two seasons, it was confirmed today.

The deal ends a drawn-out process that was only completed 47 days before the 2013 season, though rather than a five-year deal that is the norm for media rights deals, the two-year deal is seen as a stop-gap solution that puts V8 Supercars off the AFL and NRL media rights timeframes.

"This is an excellent outcome for the sport and fans," V8 Supercars CEO David Malone said.

"The extension gives great continuity heading into a very exciting 2013 season. Seven has been a great partner and we look forward to their ongoing commitment to the highest level of coverage and promotion."

Depsite the short-term deal that is set to fall short of the financial target of $30 million-plus per season, Malone insists V8 Supercars remains in a healthy position as it gears up for its first season under the new Car of the Future regulations.

"V8 Supercars is well placed for the future," Malone said.

"The certainty of a substantial television package for the next two years enables us to move forward with great clarity."

Seven gained the rights back from Channel 10 from the 2007 season with the new deal extending its relationship with V8 Supercars to eight consecutive seasons.

"We're pleased to extend our partnership with V8 Supercars. Seven is looking forward to continuing to work with V8 Supercars to build on the sport's success across our media platforms,” Tim Worner, CEO Television, Seven Network, said.

“We have a deep connection with the sport - in particular the Supercheap Auto Bathurst 1000 which Seven first broadcast in 1963. We're ready for the launch of our new agreement and with V8 Supercars we're looking forward to this year's Championship."

Though no schedules were released, it is expected that the majority of events will be telecast on 7Mate expect for the likes of the Bathurst 1000, Clipsal 500 and other marquee events, in order to avoid clashes with Seven's AFL coverage.