But council has provided no further information about the state of those discussions or when a decision is likely to be made.

It follows a report on the Speedcafe motor racing news website on Sunday that the second circuit, which has been known as Velocity Park for almost two years, was going to have to find a new name because Supercars title sponsor Virgin Australia had objected to it.

The report said Virgin Australia’s concern was that the name was the same as its Velocity Rewards frequent flyer program.

The report said council was now referring to Velocity Park as “the second circuit at Mount Panorama” and was trying to settle the dispute by negotiation.

Contacted by the Western Advocate about the claims made in that report, council provided a brief statement. 

“Council is currently in discussions with Virgin Australia about the proposed name of the second circuit at Mount Panorama,” the statement said.

The proposed second track and associated infrastructure has been known as Velocity Park since about the start of 2016.

It was referred to that way in a statement from federal regional development minister Fiona Nash as recently as the start of August, when the Federal Government announced $10 million in funding for the project.

That money for the $52 million project came after $15 million was pledged from the NSW Government.