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INPRIMATU
The Navarre estate loses 70 million in the sale of the circuit of Los Arcos
  • The Government of Navarra put the Los Arcos circuit on sale in May and last week sold it to the British company MSV Group for EUR 7 million. The circuit generated an annual debt to the Foral Government of EUR 4 million.
Xabier Letona Biteri @xletona 2022ko urriaren 06a
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The circuit was launched in 2010, at the time of the Miguel Sanz government of UPN, and taking into account the EUR 70 million that the Government of Navarre has spent all this time, public finances have lost 66 million.

The representatives of the Foral Government were pleased with the operation, they wanted to sell it in May for EUR 15 million, but they have publicly explained that a consultancy put a price of EUR 6 million, a price at which the public society has finally sold cultural, sports and leisure infrastructures of Navarra (NICDO).

Javier Onieva has been an advisor to the Public Enterprises Corporation of Navarra from 2018 until last summer and has witnessed the first line of sale. “I said I wasn’t going to sell for less than 50 million, but the company managers told me that that was impossible, that it wasn’t a market price,” he said in an interview in the News Journal.

Onieva has been a technique of Hacienda Foral for 35 years, and according to him, after the Urralburu case, the circuit of Los Arcos is the biggest public money fraud in Navarra.” It says that EUR 70 million has been thrown into the trash, as those seven million that are now to be obtained will be used to cancel the 35 million loan that was taken in its day; if it had been hoped a little, the circuit would remain in the heritage of Navarra, before it already existed, but from now on with very low expenditure. It would then have to be seen how to use it for the benefit of the region. Moreover, according to his research, 70% of the economic benefit of the circuit has gone to the autonomous community of La Rioja.

The project got off the ground from the start. Until 2013 the circuit had a public management, but lost its losses since its inception. Subsequently, until 2018, it was managed by the private company Los Arcos Motosport, but without good results, although it was left in very adequate conditions. MSV Group will now be in charge of management and has no experience as it has six circuits in the UK and one next to Paris.

At first, Viana’s own businessman, Jesús Samaniego, had a budget of six million euros to undertake the construction of the circuit on his grounds. According to the study of the Government of Navarre, on the contrary, EUR 22 million was needed and Samaniego regressed with its money. Miguel Sanz, for his part, advanced with the money of all the Navarros. According to a later study carried out by the House of Auditors of Navarra on the circuit, the Government of Navarre gave the abovementioned entrepreneur a favourable treatment, which he withdrew, but which the Government finally awarded his company the construction of the circuit.

Now the circuit has been sold by the PSN, indirectly accusing UPN that the project got off the ground from the start, but the PSN leaders supported that project. For many years, Ivan Giménez did the tandem, as he explained in his book El Corralito. And to round off the joke, twelve years later, UPN accuses the PSN of having sold the Navarros heritage and that the benefit of this type of project is long.