After an abundance of doubt and hearsay, it has today been announced that the Welsh Government has pulled the plug on £357M worth of funding for the GP style circuit, after concerns of its financial return.
Although insurance company Aviva were expected to back the project, the prospect of an awesome looking track in Wales (besides Pembrey of course) is diminishing by the day, as the economy minister thinks that there is a “significant question around the viability of the project” – which is pretty rubbish news for us racing fans.
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The CEO of Heads of The Valleys development company, Micheal Carrick, is still being rather positive about the future of the project saying that they “accept the project will need to progress on revised terms”, so let’s just hope they find a pot of gold somewhere and build us an awesome track to play on as soon as possible.
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