MotoGP of... Wales
Discussion
hebegb said:
More chance of Loon being made Prime Minister than a wheel ever being turned on the fantasy that is a GP circuit in the wetlands of South Wales . Somebody must have made some money out of the idea ...doubt they'll make any more .
Ah, but here's my bright idea.... you put a roof over the whole thing! Rain ceases to be a problem, if you want a wet race then jut turn on the sprinklers. Track could be used all year round whatever the weather outside.I shall raise this with Loon and make sure it's on his manifesto!
graeme4130 said:
Swervin_Mervin said:
graeme4130 said:
So does that mean it won't be at Silverstone in 2017 ?
No. The article outlines that the Circuit of Wales will run it at Silverstone in 2017.
Cheers
Turn7 said:
JacquesMesrine said:
Turn7 said:
Rumour mill is saying Arriva are going to cover the costs....
I hope this is a joke. http://www.bbc.co.uk/news/uk-wales-35526111
hornetrider said:
You're confusing Aviva and Arriva I think it was a joke...
woowahwoo said:
Are they gambling on other parties being attracted to it, now? Either that or someone on the board is pushing a personal project, I guess. I can't think why an insurance company, with its likely skill at risk assessment, wants to put a race track on a peat bog in the middle of nowhere, that already has major gas line for a whole region running through it, in a place with s
t weather by the standards of a country with st weather, in a country with moderate attendance levels to such events. What am I am not understanding about this?
It's not a Board decision and nobody on the Board can push a personal project anyway. Hint - those scenes of boardroom meetings in Hollywood films don't reflect the real world. Aviva are more than just an insurer, they are a gigantic international business with huge investment and pension fund assets. This will be a small investment when viewed globally, albeit a huge ft weather by the standards of a country with st weather, in a country with moderate attendance levels to such events. What am I am not understanding about this?k up and waste of money IMO. woowahwoo said:
JacquesMesrine said:
It's not a Board decision and nobody on the Board can push a personal project anyway. Hint - those scenes of boardroom meetings in Hollywood films don't reflect the real world. Aviva are more than just an insurer, they are a gigantic international business with huge investment and pension fund assets. This will be a small investment when viewed globally, albeit a huge fk up and waste of money IMO.
OK, so it's a minor-valued decision for the dedicated investment 'arm' of the company, but is it really that good of a proposition? Is it a strategy for currying favour with government and authorities for other investments in Wales? Is it a front for money from other sources?k up and waste of money IMO. I realise that never stops the internet from doing so.
One would expect that they might have thought about it for a bit, with a good deal of information to hand.
Oh gosh, its suddenly falling apart....
http://www.bbc.co.uk/news/uk-wales-35981794
and aslo....
https://motomatters.com/news/2016/04/06/circuit_of...
http://www.bbc.co.uk/news/uk-wales-35981794
and aslo....
https://motomatters.com/news/2016/04/06/circuit_of...
Turn7 said:
750,000 visitors per year?! Are they bussing them in directly from Syria?! Already done a deal with Dorna? 
Utter lunacy. Whatever time has been taken up at Government level should be charged back to the promoters. Government have better things to worry about, especially the Welsh one.
Back in the news again and this time if Aviva accept some of the risk and only 20% at that this time it might actually float. What with Aston & TVR both moving production to Wales at the moment the Welsh government could have a appetite for this venture as it could attract even more motor sport type companies.
Quote
The First Minister of Wales has pledged his support to the Circuit of Wales project despite news that the Welsh Government will not underwrite the £350 million investment.
In what was reported as a major blow for the Ebbw Vale project, the Welsh Government announced two weeks’ ago that it would not underwrite 100% of the circuit’s private investment among fears that it would not present a fair deal for the Welsh taxpayer.
Announcing her decision, Welsh Economy Minister Edwina Hart questioned the ‘unacceptable risk’ surrounding ‘significant questions’ regarding the project’s viability.
However, the most senior politician in Wales has since come out to say he is still committed to bringing the Circuit of Wales to Ebbw Vale by finding a workable model with less risk for the Welsh taxpayer.
“The model on the table was never going to work,” he said. “We could have a situation where the taxpayers can only lose and the private sector can only win.”
Jones insists that the £9 million of Government funds already spent on the project has not been wasted.
“The money that’s spent is not money wasted,” he continued. “That’s money which has been invested in the site and spent in Blaenau Gwent. We have to work with the Circuit of Wales to take the project forward. We have to find a workable model – one that’s fairer on the taxpayers.”
When questioned about the project’s viability, Jones said: “It’s very new. It’s in a part of the world where there haven’t been projects like this before. Sometimes we have to accept that element of uncertainty but as long as we do it at an acceptable level of risk.”
While any proposed solution is in its early stages, it would seem the Welsh Government are keen for insurance firm Aviva, who are footing the lion’s share of the bill, to share the risk with them. Edwina Hart’s statement had previously said the Government would guarantee 80% of the funding, but not 100% as requested.
A statement from the Circuit of Wales confirmed they were working with Aviva and the government on revised commercial teams and are hoping to conclude the deal over the next six weeks or so.
Quote
The First Minister of Wales has pledged his support to the Circuit of Wales project despite news that the Welsh Government will not underwrite the £350 million investment.
In what was reported as a major blow for the Ebbw Vale project, the Welsh Government announced two weeks’ ago that it would not underwrite 100% of the circuit’s private investment among fears that it would not present a fair deal for the Welsh taxpayer.
Announcing her decision, Welsh Economy Minister Edwina Hart questioned the ‘unacceptable risk’ surrounding ‘significant questions’ regarding the project’s viability.
However, the most senior politician in Wales has since come out to say he is still committed to bringing the Circuit of Wales to Ebbw Vale by finding a workable model with less risk for the Welsh taxpayer.
“The model on the table was never going to work,” he said. “We could have a situation where the taxpayers can only lose and the private sector can only win.”
Jones insists that the £9 million of Government funds already spent on the project has not been wasted.
“The money that’s spent is not money wasted,” he continued. “That’s money which has been invested in the site and spent in Blaenau Gwent. We have to work with the Circuit of Wales to take the project forward. We have to find a workable model – one that’s fairer on the taxpayers.”
When questioned about the project’s viability, Jones said: “It’s very new. It’s in a part of the world where there haven’t been projects like this before. Sometimes we have to accept that element of uncertainty but as long as we do it at an acceptable level of risk.”
While any proposed solution is in its early stages, it would seem the Welsh Government are keen for insurance firm Aviva, who are footing the lion’s share of the bill, to share the risk with them. Edwina Hart’s statement had previously said the Government would guarantee 80% of the funding, but not 100% as requested.
A statement from the Circuit of Wales confirmed they were working with Aviva and the government on revised commercial teams and are hoping to conclude the deal over the next six weeks or so.
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