It's understood that a company keen to build a race track capable of staging Bulgaria's first ever Formula One Grand Prix, has decided on the location.

Dutch representatives of the prospective investors visited the town of Sliven, at the southern foot of the Balkan Mountains, at the weekend, and met with the Mayor, Yordan Lechkov.

A group of Western businesses has apparently shown interest in providing much of the £140m ($261m) needed to build the track.

Key to the construction is the conversion of a local military airport, at Burshen, into a civil facility, said Mayor, Yordan Lechkov.

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Progress being made re F1 track in Bulgaria

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