Billionaire Adrian Portelli, known for buying properties on The Block, has also purchased a stake in Canberra's festival of street machines, Summernats.
And he will be attending the next Summernats in January at Exhibition Park in Canberra.
"This is actually going to be my first Summernats, which is pretty wild," Portelli told The Canberra Times.
"I'm going in eyes wide open, and looking forward to everything. Mad burnouts, the show cars, the cruising, and meeting heaps of awesome people. I can't wait.
"I bought into the Summernats group because I really believe in the Aussie car scene and I want to help protect it and grow it. We want to make our shows bigger, and also create new festivals. That's what I'm about."
Portelli - who bought and is raffling off all the properties in this season of The Block on Phillip Island - snared a part of Summernats through events outfit, the Out There Group.
The Out There Group stable includes events such Summernats, Rockynats, MotorEx, Red CentreNATS and Dust Hustle, as well as the National Drag Racing Championship (NDRC) and motoring magazine and digital content house, Street Machine.
Out There Group's co-owner Andy Lopez said the backing of Portelli had given the company the confidence to pursue expanding Summernats into the United States, with the event likely to be held in an to-be-announced venue in America in 2026.
Summernats USA would be held in an "automotive heartland", Lopez said.
When announcing Portelli, 35, as a shareholder in the Out There Group, Lopez was thrilled to welcome not only a "true entrepreneur", but another "genuine car nut" to the fold.
"Whilst the current owners of Out There Group retain the majority share, Adrian's holding and role is significant," he said.
The son of a mechanic, Portelli is best known for his LMCT+ business and his stable of impressive cars, even nicknamed Mr Lambo.
"Everyone who knows me understands just how much I love the car community, and now I'm joining a crew that are doing awesome things for that community," he said.
"I'm not here to change anything, and that's a really important statement for me to make. I'm here because I love what these guys do and how they do it. I want to help grow the current business and to futureproof our scene. The thing that also excites me is the chance to create new festival experiences and concepts in the future."
The Out There Group also has a long history in the live music industry and today provides the infrastructure for the biggest and smallest artists in the country to perform at its events. With live music festivals suffering nationally from a downturn and multiple closures, it's time to "turn that trend around", according to Portelli.
"I've seen music festivals owned by international companies close down when it gets hard - that is never happening with us," he said.
"I've told Andy I'm here for the good times and I will be his rock if we ever get to hard times."
Both Lopez and Portelli are already planning on growth opportunities for their Out There Group, with international expansion on the cards in the near future.
"I want to take our scene to the world," Portelli said.
"I can't wait to see what happens next. We're going to do some magic things together."
