- 2 updates
Motorcycling's MotoGP will come to Wales under a 5 year contract starting from next year.
The races will be held at the new Circuit of Wales site in Blaenau Gwent - which hasn't yet been built. Our Business Correspondent Carole Green reports.
The Circuit of Wales is set to become the home of British Moto Grand Prix from 2015.
Dorna, the group that owners the rights for Moto GP, has signed a five-year deal with the Heads of the Valleys Development Company from 2015.
Work is yet to start on the £280m racetrack near Ebbw Vale, but once it is complete the 3.5mile track will be able to host international motor events as a motocross and karting track and also offer off-road driving facilities.
It's estimated that 750,000 people will visit the facility each year, helping to generate around £50m a year for the Welsh economy.
Developers say an anticipated 3,000 new jobs will be created during the construction phase, with approximately 6,000 new jobs on completion.