American motorsport icon and trucking magnate Roger Penske is eyeing a move into V8 Supercars.

The billionaire has sent president of Penske Racing Tim Cindric on a scouting mission to Australia for the season-ending and title-deciding Sydney 500.

Penske Racing operates two of the biggest and most successful teams in IndyCar and NASCAR, and has previously competed in Formula One.

It’s understood Cindric is meeting with V8 Supercars management at Sydney Olympic Park on Saturday to discuss possible sponsorship and other avenues of involvement in the category.

But V8s chief executive James Warburton remained tight-lipped about Penske’s potential entry into the Australian market.

“It’s no secret Tim Cindric is here as has been widely reported,” he told AAP.

“He has been asked by Roger Penske to come out and have a look.”

Penske’s Penske Automotive Group recently purchased Australian-based trucking company Western Star.