Circuit of Wales announcement 'very soon'

Insurance giant Aviva is expected to be confirmed as the financial backers of the Circuit of Wales in Ebbw Vale, BBC Wales understands.

The £300m project's new chief executive Martin Whitaker said an announcement was expected "very, very soon" when he spoke to BBC Wales for the first time since his appointment.

The track could bring thousands of bike fans for motor sport events like the MotoGP and employ up to 6,000 people.

Aviva's money will allow work to start.

A spokesman for the Circuit of Wales said it was currently in the closing stages of the due diligence process with its financial investors.

"Once these have been completed, the supporters of the project will be publicly announced and detailed construction timelines revealed."

Mr Whitaker told BBC Wales economics correspondent Sarah Dickins that the financial deal was being finalised.