It appears the credit crunch is taking a further bite and this time it has its eyes on the world of sport.
Reports are beginning to circulate that the Jerez circuit is under threat of closure for non-payment of dues that have built up since 2005.
The courts in Jerez have frozen the assets of the company Cirjesa, which own the circuit and is apparently worth 18 million Euros, for non-payment of the annual 2.5 million Euros for the circuit.
The surrounding area of the circuit is also owned by Cirjesa and the courts are looking into this as well as suspending payments to Dorna, the MotoGP rights owner.
The judge has requested to see TV broadcasting, advertising and other documentation so that they can make a decision on the future of the circuit.
The Jerez round is due to be held on April 3rd and at the moment we don’t believe that is under threat.
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