Premier Peter Malinauskas says raided businessman Aaron Hickmann had paid his Adelaide 500 bills

The premier has revealed where the 2024 event sits following a raid on Vailo businessman Aaron Hickmann’s offices.

• Federal police raid Vailo’s offices
• VAILO Adelaide 500 road closures start

Premier Peter Malinauskas has confirmed under-pressure businessman Aaron Hickmann has paid all his bills ahead of next week’s Adelaide 500 which his Vailo company is the main sponsor.

Mr Hickmann’s offices in South Australian and Queensland were raided by the Australian Tax office and the Australian Federal Police on Wednesday afternoon. It is unclear why the offices were targeted, or if any items were seized, and Mr Hickmann did not respond to a request for comment on the raids.

Mr Malinauskas, who found out about the raids when he read about them in The Advertiser, told ABC radio Mr Hickmann had “met his obligations’’ with regards to Vailo’s sponsorship of the Adelaide 500 which will be held next weekend.

“It’s a pretty significant sponsorship in terms of its value, it’s a significant sum of money, and he has paid an awful lot of money to … the Adelaide Motorsport Board through that sponsorship arrangement,’’ the Premier said.

“If that changes into the future, then of course there’d be a reassessment. But as yet, there’s not any reason to do so.’’

Mr Malinauskas said there was no reason for the state government to reconsider its relationship with Mr Hickmann or Vailo following the raids.

“So these are recent developments. We’ll monitor them.’’

In a statement on Wednesday night, Mr Hickmann's Adelaide-based lawyer Greg Griffin said: “There is a matter with the ATO, with an objection. It is not related to Vailo. Aaron Hickmann has been compliant.”

Liberal opposition leader Vincent Tarzia questioned how long Mr Malinauskas had known about the issue and warned it risked the reputation of the Adelaide 500.

“This is a key naming rights sponsor, it is not good enough for the government to walk away from this, quite frankly this is.a scandal,’’ he said.

Mr Tarzia also said he would ask in parliament next week whether any companies were owned money by Vailo.

In a statement, Mr Hickmann did not address whether creditors were unhappy with his company.

“Manufacturing supply chains globally are experiencing pressures, but we are navigating with continued positive investment,’’ Mr Hickmann said.

Mr Hickman is not charged with any offences.

The Advertiser revealed in June that Mr Hickmann was being investigated for a potential company director ban over his role in a failed medicinal cannabis venture.

In June, the state government slapped a legal caveat restriction on two of Mr Hickmann’s properties, including a luxury $4.6m home at Glenelg South and a $345,000 Holdfast Bay boat marina berth.

Mr Hickmann, 35, who left SA this year and purchased a $12m mansion in Queensland, said he will repay the undisclosed unpaid land tax amount once the sale of the Glenelg South property was settled.