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Circuit of Wales Says It Has £120 Million of Conditional Funding in Place

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One of the greatest mysteries surrounding the Circuit of Wales is exactly where the funding for the project is due to come from.

The ambitious project to build a circuit in the Blaenau Gwent region of South Wales will need some £325 million to complete it entirely, with around £200 million to come from private investors, the rest to come from public funds.

Though the Circuit of Wales has had plenty of headlines, there has been little word of any private investors putting any actual money into the project. That seems set to change.

Michael Carrick, Chief Executive of the Heads of the Valleys Development Company, the company behind the Circuit of Wales project, told the BBC that they have already raised £120 million in private investment, leaving £80 million still to find for development to go ahead.

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MotoGP

Circuit of Wales Gets 5-Year Deal for British MotoGP Round

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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.

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