Spanish fans might get short-changed one of their four MotoGP rounds this year, as news comes that the managing group of the Jerez de la Frontera track has hit financial troubles. Missing a €2.5 million payment to the city of Jerez, courts have frozen Cirjesa’s assets (the company that oversees the circuit’s operations), which includes its payment to Dorna to host the Spanish GP round.
Jerez de la Frontera incurred these costs after re-vamping its facility back in 2005, a move which was financed by the Spanish city and other financial backer. With the land valued at €17 million, there is plenty of equity in the circuit to make good on the outstanding payment, and it looks like the city is eyeing the surrounding property for recompense on some of the full debt amount.
While this news could put in jeopardy the track’s slot for the MotoGP season, we don’t think it’s quite time to break out the “Save Jerez” banners just yet. Considering how much revenue the track brings in to the Spanish City, and what an important event it is for the circuit, we find it unlikely the courts would do anything to truly jeopardize the running of the Spanish GP at Jerez.
Still, the court involved with the proceeding is taking things seriously, and has requested all contracts and documents pertaining to Jerez de la Frontera’s promotion, television broadcasting rights, and advertising agreements. MotoGP is slatted to hit Jerez on April 3rd, so whatever is going to happen, is going to unfold in the next few weeks.
Source: Diario de Sevilla