Motorsport Vision (MSV) has confirmed it has completed the purchase of the Circuito de Navarra in Spain after agreeing terms on a deal understood to be worth around €7m.
Already Europe’s largest motor racing circuit operator with a portfolio comprising a number of the UK’s most prominent venues - Brands Hatch, Donington Park, Oulton Park, Cadwell Park, Snetterton and Bedford Autodrome - the addition of Navarra sees MSV extend its reach to southern Europe for the first time.
While this is MSV’s second international venue - following on from a deal to take on the Laon Autodrome, which the company recently revealed with be developed into an eco-circuit facility - Navarra is functioning and active venue with modern facilities capable of hosting FIA Grade T1 and 2 races, plus FIM Grade B events.
The latter grade led to Navarra making a brief appearance on the WorldSBK Championship calendar in 2021, though it wasn’t retained for this year’s calendar.
MSV finalised its deal with public company NICDO (Navarra Impulsa Cultura, Deporte y Ocio) for the 3.933km length, 5,000 capacity venue - located in the north of Spain in a region - following a negotiation process that began in May.
As part of the agreement, MSV has committed to a substantial upgrade of the facility in the hope of attracting the return of internationally sanctioned racing series’, though there is no mention of whether the company’s own prominent Bennetts British Superbike Championship could feature Navarra on its calendar.
"The acquisition in principle of Navarra circuit is tremendously exciting and another landmark in the expansion of MSV,” MSV Chief Executive Jonathan Palmer said.
“It is an extensive and very impressive facility and our ambitious plans should enable the circuit to realise its full potential, with the intention of significantly increasing its levels of daily occupancy and the number of high profile race events.
"We believe a great strength of Navarra circuit is the region itself, and its proximity to beautiful cities such as Pamplona and Logrono, and of course the famous Rioja region.
“The scenery, food, wine and hospitality is outstanding, and will be a major attraction to those who come from outside of Navarra and indeed Spain.
“With our international presence, reputation and reach we expect to attract visitors and participants from the UK, France, Holland, Belgium, Germany and beyond.
"We intend Navarra Circuit to become an internationally admired and successful circuit business attracting many new customers and visitors, as we have achieved with all our other circuits."