There are miserable buggers even on motorcycles it seems. Have any of you moaning naysayers been to the greatest white elephant in motorsport Autodromo Algarve, aka Portimao? A fantastic place. If they build it, we will go.
the big lit up thing, what is it for? what does it do? nothing. built to provide employment for local people and suppliers during a down turn. makes the place just that wee bit more interesting to visit. more people visiting? more people paying for accommodation and coffee. benefits the community as a whole. think small? be irrelevant.
I have and Portimao went bust not long after it opened and had to be bailed out by Portuguese taxpayers? The first full season calendar included rounds of the A1GP championship, the Le Mans Series, FIA GT as well as a continuation of the World Superbikes, while WTCC and GP2 followed in 2010. Drivers and riders alike were much enthused by the layout, which promoted good racing But while the circuit's sporting calendar began to establish itself, behind the scenes the finances were beginning to unravel. Substantial debts began to build up, with two of the major creditors being the BCP bank and construction company Bemposta. The Formula One group was another to lose out, being owed around $4 million for the 2010 GP2 race. The problems meant the planned technology park was halted, while the hotel building and apartment blocks were left only partially completed. Three creditors, Siemens, Ensul Meci and SPIE – who were responsible for the electrical infrastructures at the racetrack and adjacent land – petitioned for insolvency during this period and while the Parkalgar management soldiered on putting forward a variety of restructuring deals, the writing appeared to be on the wall. Then in September 2013, the State-owned Portugal Capital Ventures acquired control of Parkalgar. This effectively meant that Portuguese taxpayers now owned both of the country's main racing circuits, Estoril having similarly been bailed out of financial difficulties in 1998. Under the new ownership, there have been signs of promise, with a revitalised 2014 calendar including the World Superbikes once more, bolstered by GT Open and the Blancpain Sprint Series, alongside the new Maxi Endurance 32 hour race, the longest continuous endurance race in the world. While Formula One might ultimately prove to be a forlorn dream, it is to be hoped the Portimão circuit can establish its long-term viability for other forms of racing.
I know, but it exists. I would like the taxpayer to pay for a circuit in this country too. Better than paying for a lot of the so called services we receive now from councils and government departments.
Good example. As mentioned in your quote, Portugal already had, at Estoril, a circuit which was incapable of generating enough income to make itself economically viable. So blow me down if they didn't go and build another circuit at Portimao which also couldn't earn enough money to be viable. Instead of one broke circuit to bail out, they had two.
Both still operate and give joy to many people, so what is your point exactly? My point is that if you are already going broke, collapsing, in debt, and begging for a bailout, it is not a great idea to blow more millions on yet another unnecessary, unviable white elephant. Or it seems from your posts that perhaps you do think it is a great idea?
odd thing to say for a labour guy. the common good and all that. shows you what i know but does wales have a world class track already? does wales get beamed across the world regularly? do people realize the benefits that can bring? you can ram your glorious five year plans. :smileys:
There's isn't much exciting in this part of the uk it's drab and dreary and sad. It would be great to see it have something exciting to prepare for.
It seems you've declared it a white elephant and a 'boomdoggle' as if you know better than anyone else or can read tea-leaves. Giving something a name doesn't make your opinion any more insightful... or prophetic. Not that its important, what is is that there'll be an international class racing circuit just up the road from me. Anything else is a bonus. The thread is quite a funny document of moan :tearsofjoy:
Last year I remember reading the business model & planning permission relied upon the development having completed 100,000 sqm by the close of 2015. Notwithstanding this, how this proposal continues to fester baffles me. Its figures are ambitious in the extreme. £300m into a sector that's barely profitable. On a moor in a region that's on its arse. With a headline event that is only guaranteed until 2018. I can't imagine an organisation(s) that would wish to finance it. Much less an organisation that would act as guarantor. I'd much rather see £300m invested in Ebbw Vale's education, housing, industrial investment etc etc etc. That's what it needs more than anything. I'd be genuinely surprised if this goes ahead in its current form.
the south east is getting pretty busy and expensive. might be able to attract motor sport company's etc. haven't seen the location. by the coast perchance?
For location I would say think Bonnyrigg on steroids without the links & proximity to a major city. It's suffered a double whammy over the collapse of both the coal and steel industries.
