Bulgaria F1 race in works UPDATE #2 (GMM) Bulgarian officials are close to reaching an agreement with formula one for a grand prix in the southeastern European republic.
Conducting the talks with F1 authorities is the Bulgarian Motorcycle Federation (BMF), with its chief Bogdan Nikolov telling the Dnevnik daily newspaper "we expect to have a result by next week".
The BMF said it has already secured the funds to build a track to host the MotoGP championship in 2011.
"Once we sign the contract for hosting an F1 event, we can build a second track," Nikolov said.
Bulgaria's other motor racing body, the Bulgarian Motor Sport Federation (BFAS), was involved with the F1 negotiations until six months ago, its president Georgi Yankoulov revealed.
"I cannot imagine that the FIA will take any commitment before the ground-breaking ceremony for the track," he said.
"I am not against the idea but I have moderate expectations about it. The task is too complicated and difficult especially in the current situation of an economic crisis with sponsors backing down." 12/08/08 (GMM) New rumors about the possibility of a future grand prix in Bulgaria have emerged.
Two years ago, it was reported that Dutch or British investors were considering putting up the funds for a circuit in the east European republic.
Now, the Bulgarian news agency Focus said the country is eying a spot on the 2011 formula one calendar, following a meeting in Monaco.
At the meeting were F1 officials as well as representatives of the Bulgarian motor racing federation and the government.
Bulgarian minister Rumen Petkov is quoted as saying "one of the main priorities for our country are the talks with MotoGP and formula one".09/17/06 British investors are planning to build a Formula 1 racing track near Kavarna at the seaside, Darik News reported.
The company is planning to invest over 15M Euros in the race-track that would answer to all Formula 1 requirements, the mayor's office has announced.
Mayor Tsonko Tsonev has already talked to the investors and is planning to present their proposal to the Municipal Council on September 26.
The track will spread over more than 1,000 decares of land between Kavarna and nearby village Bulgarevo. It will be serviced by locals and the investors are ready to cover some of the expenses for the training of young workers.