It's understood that a consortium of British investors is planning to build a race track in Bulgaria.

The plan, according to initial reports, is for a 15m (Euro) track to be built near Kavarna, on the Black Sea, with the investors, like so many before them at other proposed - and existing - Grand Prix locations, eyeing tourist revenue.

The local mayor, Tsonko Tsonev is understood to have detailed talks with the British consortium and is planning to present the proposal to the Municipal Council on September 26.

Last week Pitpass reported that the Minardi two-seater programme (F1x2) is to run in Sofia this week, before heading off to take part in the Bulgarian Festival of Speed at Bojurishte. The event marks the first time that a Formula One-based car has taken part in an event on the Balkan Peninsular.

As for the Bulgarian F1 track, 15m (Euros) is a small amount of money, while the 250 acre site seems similarly on the small side.