End of the Estoril circuit

End of the Estoril circuit

There is now a date for the end: December, 31, 2012.

The circuit is for sale (it is currently owned by the government having
been used to pay tax debts 10 years ago) and the main criterium will be
the price (the nearby city of Cascais wanted to buy it, but they could
not meet the asking price).

The buyer will be forced to keep the circuit homologated until 2012 and
allow its use for 12 days per year. But when that expires the most valuable
thing to do will be to use the site for buildings. It is in a nature park,
so that should not be possible, but if there is enough money involved there
will be a way around those rules (the track is for sale for about 35 million
euros, but the land is estimated to be worth about 100 million euros if used
for buildings).

--
http :// www .mat.uc.pt/~rps/

.pt is Portugal| `Whom the gods love die young'-Menander (342-292 BC)
Europe | Villeneuve 50-82, Toivonen 56-86, Senna 60-94

Re: End of the Estoril circuit

Thus spake Rui Pedro Mendes Salgueiro <rps@koala.mat.uc.pt> :

>There is now a date for the end: December, 31, 2012.
>
>The circuit is for sale (it is currently owned by the government having
>been used to pay tax debts 10 years ago) and the main criterium will be
>the price (the nearby city of Cascais wanted to buy it, but they could
>not meet the asking price).
>
>The buyer will be forced to keep the circuit homologated until 2012 and
>allow its use for 12 days per year. But when that expires the most valuable
>thing to do will be to use the site for buildings. It is in a nature park,
>so that should not be possible, but if there is enough money involved there
>will be a way around those rules (the track is for sale for about 35 million
>euros, but the land is estimated to be worth about 100 million euros if used
>for buildings).

Of course they'll build on it. There will be a little park, all
neatly manicured and pruned. But multimillion Euro buildings, pulling
in hundreds of millions of Euros in rent and paying out huge chunks of
taxes.
--
dillon

Flower Whiskers, RIP
What a great leader

Re: End of the Estoril circuit

On Wed, 21 Nov 2007, Dillon Pyron wrote:

> Of course they'll build on it. There will be a little park, all
> neatly manicured and pruned. But multimillion Euro buildings, pulling
> in hundreds of millions of Euros in rent and paying out huge chunks of
> taxes.

Ah, fond memories of Bridgehampton. Great circuit to drive on, terrible
circuit to drive off.

Steve