[Closed] Circuit of Wales

I don't think this was ever feasible,

Nope. Amazed that it got this far. I think surfing was the only sport they didn't promise to build an area for in their attempt to get government funding.

It was just a cash cow from the very beginning for the investors; some shaded dealings had already been discovered.

Heads of valley wasn't the best place for a race track anyways. There is risk of snow or ice up there 6mths of the year.
It's a shame the locals had their hopes falsely raised ... but even if it was going ahead it would never have really benefited them.

Considering that the existing race circuits like Silverstone and Donnington are struggling to make ends meet, and they are both within an hr of millions of people and have huge race events (like F1, superbikes, touring cars etc), how anyone thought the "circuit of wales" could work is frankly astonishing........

They wanted the government to underwrite the cost, some £200M and got paid £33M over 30 odd years. If it failed the government covered the cost and the firm kept everything! Makes a loss, firm goes bankrupt walks away we (the tax payers) pick up the bill (again). They start afresh with no debt and make money! It wouldn't have taken me that long to say no.

Sounds like a very well thought out Cash Cow Plan, what's not to like.
Got to admire the bullshite bingo'ists.

I don't think this was ever feasible.

Spending that much money on a circuit when even established ones like Silverstone and Donnington (remember the failed F1 grab?) can't get government funding is just nuts.

It was just a cash cow from the very beginning for the investors; some shaded dealings had already been discovered.

Heads of valley wasn't the best place for a race track anyways.

This was all put to them at the beginning and they dismissed it out of hand.

The biggest tragedy out of the whole saga is that the opportunity to develop the land for businesses that could have provided badly needed jobs has been lost. The EU were ready to provide funding via the Regional Development Fund to do exactly this when the Circuit proposal was first considered. Now that will not happen. Aston Martin were ready to move up there, they've gone to St Athan instead. With the Heads OF The Valley road being improved more companies were looking at the area too, Aldi being one for a distribution centre. It's now just outside Cardiff.

A massively missed opportunity for an area that really needs it.

Its not all bad news though:

But the economic problems have not gone away in Blaenau Gwent. Mr Skates said local people "have waited long enough for the promised jobs".
Sports car-maker TVR has already chosen to base its new factory nearby and a new college campus in Ebbw Vale has given the Welsh Government something to build on.
The economic potential seen in the engineering and automotive technology park - part of the circuit plans - has now led to a Welsh Government commitment to a £100m project over 10 years "with local partners".
It says this has the potential to support 1,500 new jobs.
Ministers are also looking at the potential of locating a South Wales Metro depot in the Ebbw Vale enterprise zone.