Matt Payne has signed a long-term agreement with Penrite Racing just a week after his sensational breakthrough victory at the Adelaide 500.
The 21-year-old finished 14th in the 2023 Supercars standings as the best rookie, featuring in the top 10 eight times.
“After securing my first race win, I am excited to re-sign with Penrite Racing,” Payne said.
“The upcoming season holds new challenges, fresh competition, and the opportunity to improve my performance on the track.
“I am confident with the support of Penrite Racing, we can further our success in 2024.”
Team owner Stephen Grove has recognised Payne’s potential over the past three seasons, utilising his talents in GT racing and Super2 before he stepped into a full-time Supercars role this year.
“It was important for the team to extend Matthew’s contract to ensure the entire Racing group can continue to develop the team for the long term,” Grove said.
“Matthew is a vital part of our long-term strategy, and his commitment to the team through a long-term extension to his current contract is a testament to the direction of the whole Racing group at Grove Racing.”
Penrite Racing Team Principal David Cauchi adds, “Matt started his career with us as part of our junior team, and he is the first driver to graduate up to Supercars,”
It is a testament to Stephen and Brenton Grove for their commitment to developing young talent and to continue our relationship with Matt is very satisfying.
“Our first year in Supercars produced a race win, which is a rare achievement in such a competitive championship.
“Matt has shown that he deserves to be in Supercars, and he will be a key part of our team into the future.”
Payne and Stanaway begin their 2024 Supercars campaign at the Bathurst 500 in February and will feature at the ITM Taupo Super400 in April.