No MotoGP in Wales in 2015. Probably in 2016. And if achieved that's where it's going to be for the rest of this decade. Maybe longer. The centre piece of an ambitious motor sports business park on a huge stretch of common land in a valley long deserted by traditional industry.

But for the time being MotoGP will remain where it has been for the past few decades, either Silverstone or Donington, on a rent-a-circuit basis.

As seems to be the norm with all big construction projects, it is behind schedule. Planning has taken longer. And raising the money has been delayed. In fact, it hasn't even started yet.

If doubts had started to creep in fuelled by negative media stories; if rival circuits were jealously protesting at the possibility of state support; if it hadn't been understood that this was more, much more than just a race track; then a demonstration of confidence had to be made.

A press conference was called. MotoGP owners Dorna were summoned to appear. Local media, including BBC Wales, plus the odd motorcycling hack, were lured by coffee and biscuits. Venue - the Park Plaza Hotel, Greyfriars Road, Cardiff.

It was fairly low key. Circuit of Wales Chief Executive Michael Carrick spoke of building high quality and sustainable facilities which would change the face of motorsport in the UK.

"We like to think of ourselves as the leaders in motorsport, headed by MotoGP. And with our partners we are going to get it right," he said, adding: "But we still have some way to go."

Dorna's Carmelo Ezpeleta said they shared all the aspirations of the proposal and had been involved for two years. The fact that it was not going to be available in 2015 was not a problem.

"We are happy," he concluded. "The place where people understand more about motorsport than anywhere else in the world is Britain. We will have three British riders on the grid next year and more in the future."

Javier Alonso of Dorna opined that it would be one of the best ten circuits in the world.

Blaenau Gwent council leader Hedley McCarthy described the development as a game changer.

Local MP Wayne David, also a private secretary to Labour leader Ed Milliband, described it as a great development for the area and MotoGP would have the same effect as the Ryder Cup. Adding intriguingly: "If it comes to fruition."

No questions were allowed from the floor but interviews on a one-to-one basis were given by the participants.

Speaking to bikesportnews.com, Mr Carrick confirmed that a ten year agreement - a five year contract plus a five year option - existed between the Circuit of Wales and Dorna and they were contracted to pay the fees whether MotoGP was at the CoW or not.

They were looking to reach agreement with either Silverstone or Donington to rent their circuit. Or whatever other arrangement could be reached. But the event would be promoted and organised under the Circuit of Wales banner.

He said that finance so far had some from the Welsh government as grant aid and when asked about private investment he confirmed that of the £315m investment required £200m would need to be raised from private investors.

"We have had a lot of interest but, no, nobody has signed on the dotted line yet. But we are just starting that part of the process. We haven't done any road shows but we expect to be there by Dec 10," he said.

He was very keen to emphasise that the circuit was only one part of a massive redevelopment and regeneration of a deprived area. And he was dismissive of doubters who cited the failure rate of new circuits.

"Rockingham was built for the wrong kind of racing, the Donington development was just a mad idea from Simon Gillet and, yes, Silverstone has had its problems but…” he said.

Responding to local MP Wayne David's use of the "if" word, he said:"Well he's an MP. They have to do that!"

Ezpeleta said they had experience of race track construction taking longer and cited Aragon. Asked about the payment of the contractual fees with the circuit not being ready for the first year he said: "This is not a problem, it is a five year contract not a one year."

He emphasised that Dorna had been involved for a long time with the project in all that it offered beyond the circuit and were completely supportive. Asked which circuit he would prefer for 2015, he diplomatically declined to respond saying it was a matter for the Circuit of Wales to negotiate as long safety regulations were met.

The project has not been welcomed by other motor racing circuit owners, principally Jonathan Palmer of MSV and Richard Phillips of Silverstone where, ironically, the 2015 MotoGP may end up as a rent-a-circuit deal. Phillips is in Brno this weekend to talk to Dorna. They say giving government aid to a commercial enterprise is anti-competitive and have gone so far as lobbying the Prime Minister.

It also has its critics in the area. One local opposition MP has criticised the Welsh government for lack of information concerning funding. The Western Mail revealed that the £2m initial grant to the Heads of Valleys Development company had been topped up by an unspecified amount, which they suggested was £500,000.

Quoting an anonymous email, the paper also alleged that all or part of this money had been paid to Dorna, a claim hotly denied by CoW project sponsor Chris Herring. Relationships with the journalist in question, Martin Shipton, were distinctly frosty.

Herring said plaintively: "We don't need this sort of rubbish. This is a fantastic project. We are still running racing circuits on old airfields or former grass tracks. What sort of future are we going to have if we don't move forward."