The Circuit of Wales has denied the collapse of its British MotoGP deal with Donington Park is because it doesn’t have the financial backing to proceed with the 2015 race.
The partnership between Circuit of Wales and Donington Park ceased this morning when the latter issued a lengthy statement on why it would not be hosting the British MotoGP round as planned on August 30.
Donington Park was chosen by Circuit of Wales to stage this year’s event after Silverstone’s five-year contract with Spanish-based rights holders Dorna ended last season.
The exclusive promotional rights for the British Grand Prix were awarded to Circuit of Wales. But with the ambitious 830-acre site not even under construction, Circuit of Wales effectively loaned the race to Donington Park.
That relationship was always subject to Donington Park undertaking a large and expensive upgrade to the famous Leicestershire track, which last hosted the British MotoGP race in 2009.
Donington issued a statement earlier today saying it had backed out of the deal with Circuit of Wales, with funding to help with the track modifications and hosting of the race not forthcoming.
But in a counter statement issued through its London-based PR agency this afternoon, Circuit of Wales denied financing was an issue.The statement confirmed that Circuit of Wales is to remain promoter of this year’s race, with MCN understanding a deal to move back to Silverstone is already agreed.
The statement read: 'The Circuit of Wales is disappointed to have been unable to reach a contractual agreement with Donington Park Racing Limited (DPRL) to host the British round of the 2015 Motorcycle Grand Prix World Championship.
'After initially agreeing Heads of Terms with the board of DPRL in September 2014, both parties were subsequently unable to agree further terms to form a legal contract. Contrary to claims by DPRL that the Circuit of Wales is unable to meet the funding arrangements, we are unwilling to provide the significant funding that DPRL required for the necessary track upgrades to host the British Grand Prix without a signed contractual agreement.
'We have all of the funding necessary in place to promote and host the 2015 race in the UK. All funding for the flagship Circuit of Wales regeneration development in Blaenau Gwent is on track with works due to start later this year following the outcome of the public inquiry in March.
'The Circuit of Wales will continue to promote the British round of the FIM MotoGP™World Championship and is fully committed to delivering the event later this year.’