Circuit of Wales developers in Ebbw Vale have submitted a new funding proposal to Welsh Government for the massive project.
Welsh Ministers last month refused to agree to a proposal to underwrite all of the £350m which was being invested by insurance giant Aviva.
The latest deal would involve the Welsh Government underwriting less than half that figure, it is understood and are also believed to involve another £40m private capital.
The new proposal will be considered by Welsh Government but that could take a few weeks as the new Senedd is established following Assembly elections this week.
Proposers of the 830-acres scheme say it will bring 750,000 visitors a year to the area and will provide 6,000 job opportunities while associated businesses would create 1,650 training placements in an academy on the site above Ebbw Vale.
Critics claim the figures are unrealistic and over-estimated and point to the struggling established circuits which are competing for events and also say the Circuit of Wales is too far from main centres of population and will suffer from access problems in bad weather.
Robin is the longest serving chairman of The Western Group. He’s been vice chairman or chairman for over ten years and oversees the annual Western Group PR Driving Day each summer assisted by the group committee and supported by group members.
He contributes to a number of outlets in Wales and the UK, including the Driving Force editorial syndication agency feeding the biggest regional news and feature publishers in Britain.
Robin specialises in the Welsh automotive sector and motor related businesses with interests in Wales and publishes WheelsWithinWales.uk which covers news, features, trade and motor sport in Wales.