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Crankworx Summer Series will showcase four iconic South Island biking destinations in March.
Cardrona, Central Otago, Queenstown and Wānaka are set to host the Crankworx Summer Series of mountain biking events in 2023.
The money from the Major Events Fund will support 30 mountain bike events over the next six years.
The new series of events being hosted in the Southern Lakes and Central Otago could attract thousands of visitors over the summer.
The Government will invest up to $1.7 million over five years into the mountain biking Crankworx Festival and Enduro World Series in Rotorua.