The multi-million pound plan to create Circuit of Wales has stalled. Developers of the £357 Million 800-acres motor sport complex above Ebbw Vale have failed to get Welsh Government to underwrite the project and its future is now in great doubt unless it can be refinanced, but talks are continuing to try and rescue the deal. Welsh Government Economy … [Read more...]
Plans falling into place for Circuit of Wales
Developers hope to begin preparation work before the end of the year on the Circuit of Wales near Ebbw Vale. Developer Michael Carrick has been in South Wales meeting potential investors and representatives of potential employees and has told BBC Wales that all the finance needed for the £300M project has been pledged. He hopes the circuit will host … [Read more...]
Obstacle removed to Circuit of Wales development
The £325M plan to build Circuit of Wales on moorland above Blaenau Gwent has moved a step closer. Last week, the Welsh Government said it was unlikely to object to acquisition of common land by developers providing alternative ground was given to them for animal grazing and access following a public inquiry in March. Once agreed the plan can push ahead … [Read more...]
Race plan backers mounting
Circuit of Wales in Blaenau Gwent has secured £120m from private Asian backers to the project. Two thirds of the private money needed is committed conditional on the circuit in Ebbw Vale passing outstanding planning hurdles and its hoped the remainder will be provided through UK and Welsh Government investment. … [Read more...]
MotoGP back at Silverstone for 2 years
The British MotoGP will return to Silverstone this year and next. The turn-around after the event was due to move to Donington from Silverstone follows event organisers Circuit of Wales failure to agree final terms with the Midlands circuit. Silverstone Circuit and Circuit of Wales have requested Dorna Sports, which hold rights to the world series, to … [Read more...]
Circuit of Wales goes to public inquiry
Plans to build a £315m motor racing circuit in the south Wales valleys will go to a public inquiry in March. The eight day hearing in Ebbw Vale will examine the request to take over 250 hectares, 600 acres, of common land. Backers including Blaenau Gwent council have offered around 320 hectares or 800 acres of land to replace it and the inquiry in Ebbw … [Read more...]
