Tuesday 25th March 2014

Circuit of Wales 'unviable' says Silverstone

UPDATE: Ebbw Vale circuit disputes Silverstone claims with explicit statement of legitimacy

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UPDATE 14:00 24/3/14: Unsurprisingly it hasn't taken the Circuit of Wales long to respond to Silverstone's claims of illegal state aid. In a response posted on its website, it was stated that the track qualifies for Government support as it is located 'in one of the poorest areas of the country'.

CEO Michael Carrick added: "We are disappointed to have heard of the content of this letter, it sounds like Silverstone is resistant to investment within the automotive sector which is vital to its continued growth and development in the UK. The suggestion of ' illegal state aid' made by Silverstone also highlights they do not understand the basic process of applying for state funding of this nature."

[Source: CoW]

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Original story, as reported 12:00 24/3/14:
It's been a while since anything has been heard about the Circuit of Wales. The Ebbw Vale track development sounded exciting, with motocross and karting as well as the 3.5-mile circuit. But recently progress has been delayed; the directors requiring a big-ticket event such as MotoGP for the circuit before construction could commence.

Today Silverstone further put the boot in, arguing that the project is "unviable" and declaring in a statement that any government financial support for the project would be deemed 'illegal state aid'. "A transfer of state resources would give Circuit of Wales an economic and selective advantage over other circuits," Silverstone management said in a statement. "Silverstone has no objection to competition between UK circuits, but it has to be a level playing field."

The Midlands track pointed out that a similar argument was put forward by the Government when Silverstone was looking for money to help keep the British Grand Prix and expand its Motorsport Valley project. "The application was denied on the basis that this would be classed as illegal state aid," it said.

It also drew comparison between Donington's failed attempted to woo Formula 1 and the Circuit of Wales. "Motor sport at circuit level is not particularly profitable and often loss-making," it said. "It would be unrealistic to suggest Circuit of Wales will be the exception."

More as and when it arrives.

[Sources: Silverstone, Autosport]

[Mellow7]

If Harris stopped blowing his cash on Ferrari's every 6 months and invest in this I bet he'd have his name on a corner!

[Mellow7]

"Where are the 400,000 odd unaccounted visitors per year coming from?"

Forest of Dean...