Circuit of Wales boss offers 'more comfortable' risk deal

The team behind the £357m Circuit of Wales has said it hopes to have a new deal agreed to allow the project to go ahead within six to eight weeks.

It follows a refusal by ministers to underwrite the Ebbw Vale project.

The Heads of The Valleys Development Company said it has put forward two alternative options with revised commercial terms for its backers Aviva and two local councils.

Ministers were asked to provide a 100% guarantee but rejected it as too risky.

Michael Carrick, the company's chief executive said the project was offering a new deal with a "more comfortable" risk to Welsh Government.