The Circuit of Wales will be built alongside a sports, leisure and entertainment facility thanks to a new partnership with the Extreme Sports Company.
Today's announcement with Extreme confirms progress has not halted, despite concerns progress on the £425 million site that spans 336 hectares to the north of Ebbw Vale was slowing following the Welsh government’s refusal to underwrite private investment last year.
The reignited project is the most significant capital investment programme in automotive, motorsport and extreme sport infrastructure that the UK has seen in 50 years. The site will host motorsport and other outdoor leisure activities such as snow and water sports, skating and live music stages, with an estimated 750,000 visitors and an injection of £50m into the Welsh economy per year.
The Circuit of Wales location will benefit from promotion through the Extreme Sports Channel, which is broadcast in 68 countries across the world to as many as 100 million pairs of eyes.
Once completed, the track is also on course to become the home of the British MotoGP. The race is the UK’s second most popular motorsport event after F1's British GP.
Circuit of Wales CEO Martin Whitaker said “Our partnership with Extreme underlines the unique range of activities, facilities and services the Circuit’s enterprise cluster will offer Wales and the UK. The Circuit aims to provide much more than a racing facility; it will be a 365-day leisure and business destination.
“The support we have received to date from the racing, automotive and investment communities emphasises the Circuit’s long-term role in boosting tourism, creating jobs and diversifying the local economy.”
Reborn British car maker TVR plans to locate itself at the new circuit. The company, which is originally from Blackpool, signed a deal with the Welsh government last year to produce its new models there from 2018.