LISBON: Cascais council is to buy the Estoril race track for €4.9 million euros in a deal that Cascais Mayor Carlos Carreiras believes will boost the local economy and sectors such as hospitality.
According to reports the purchase was approved in a town hall meeting yesterday despite strong criticism from the opposition who were heavily against the proposal. Mayor Carreiras said the race track would complement Cascais’ already long and diverse list of facilities.
The local authority made the offer to buy the race track after considering that it had lost its appeal over the years, either “due to lack of investment or the inability to secure major international events.”
