The British Grand Prix is to move, if everything goes to plan. At a press conference held today, Dorna and the management of the Circuit of Wales announced that a deal had been reached that will see the track, to be built in Ebbw Vale in South Wales, will host the race for the next five seasons, with an option to extend the contract for another five years after that, until 2024.

The only problem is that the Circuit of Wales does not exist yet. The track is part of a £315 million project aimed at regenerating the Blaenau Gwent region, a once-prosperous region that has lost most of its employment since the coal and steel industries closed.

The Heads of the Valleys Development Company have set up a scheme to create a major motorsports industry hub centered around an FIM and FIA homologated race track, capable of hosting world championship racing.