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A big blow for the proposed Circuit of Wales, recently.
The Welsh government has withdrawn support for it, certainly from a financial point of view, at a recent cabinet meeting. They have already spent about £10 million of taxpayers' money on this "project" since 2011, yet the developers behind the scheme, HoVDC, haven't even purchased all the land that would be required, and has still to get planning consent for the track.
How long HoVDC can avoid bankruptcy is open to question as they have a binding contract to host MotoGPs up until 2019, and are having to hire Silverstone in lieu of their own circuit. And that arrangement has led to a loss for the last two years, possibly indirectly subsidised by taxpayers.
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