News from Finland in English

Funding for KymiRing race track to be decided in April - MotoGP set for 2019

The funding of the motorsports and driving training center KymiRing has moved forward. Kymiring Oy, the company behind the venture has made a proposal for funding to it's main owners. The municipality of Iitti is one of the owners.

The Finnish parliament granted the KymiRing venture 3,5 Million euros of state subsidy. The subsidy will be granted only if the company can get the rest of the funds it is seeking. Talking to Yle, the Iitti CFO, Jarkko Salonen says that the company is asking for money from the municipality.

Salonen goes on to say that arranging the financing for the motorsport track is challenging, but it is important to the whole area and they are willing to work hard to get things going. The exact amount that Kymiring Oy is asking for is not revealed, but instead Salonen says that the company will communicate details as it sees fit. The faster the better the venue will host MotoGP races from 2019 to 2023. Credibility of the venture has been questioned by some.

The decision whether the municipality will participate in the funding will be decided in the local government, and decisions are likely to be made during April 2018. Salonen is positive on the news and says that to him it seems that the project is moving forward. Funding has been challenging and the progress is behind the original schedule.

Iitti municipality owns 19 percent of Kymiring Oy and, the other owners are AKK Motorsport, Suomen moottoriliitto and A. Ahström Kiinteistöt. The venture has secured MotoGP races at KymiRing starting from 2019 and there are even rumors of a Formula 1 race in the track.

Source: Kymi Ring pyytää rahaa Iitin kunnalta – lähetti esityksen rahoituksesta omistajilleen

Written by Janita on Sunday March 11, 2018
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