Parpública, the entity that owns the Estoril race track, will proceed with an evaluation of the circuit, as part of the preparation for an open direct sale process, which is expected to take place in the second quarter of this year.
As reported this Wednesday by Sapo24, Parpública confirmed that “the objective is to sell the Circuit at the best price, safeguarding the public interest, after evaluating the proposals that will be presented”. The State-owned company does not expect negative impacts on the sale due to court-imposed noise restrictions.
Parpública has already stated that “it has received several expressions of interest for the acquisition of the Estoril race track, which are only presentations, with no binding content”, and that the open sale process, known as Reference Direct Sale (VDR), will start as soon as all conditions are met, “expected to occur in the 2nd quarter of 2024”.
The sale of the Estoril Race Track by Parpública was supposed to take place about two years ago, however, the evaluation of the circuit delayed the process.
Furthermore, noise restrictions imposed by a court decision have limited the use of the race track, although Parpública believes that “significant impacts on the sale are not expected”.
It should be noted that the Estoril racetrack came under state ownership in 1997, due to debts to the Tax Authority and Social Security from the Grão-Pará Group, and has been on the verge of being sold several times, but so far, all attempts have failed.
The latest attempt was in 2015, when the Court of Auditors halted the agreement with the Cascais City Council, which was paying €4.9 million, considering that the municipality did not safeguard the interests of the population and did not present the necessary “technical studies.”
