Since the launch of the Circuit of Wales project in late 2011 the project path has taken many twists and turns over the past six years.

Currently, the Heads of the Valleys Development Company which leads the Circuit of Wales project is asking 'reasons and clarifications' on why its latest public funding plan was turned down before deciding upon its next move.

Take a look over the project's timeline starting from the initial story reported back in November 2011.

Circuit of Wales timeline:

21st November 2011: A MotoGP circuit in Wales?

Plans for a new ?200m motor racing circuit in the south Wales valleys has been unveiled.

15th August 2012: Circuit of Wales plans progressing

Planners confirm it has secured enough money for the proposal with consolations and public exhibitions beginning with the local authorities.

1st October 2012: Head of Valleys Development buys FTR

The group behind the proposed Circuit of Wales motorsport venue has taken ownership of FTR, a chassis manufacturer in all three motorcycle grand prix classes.

10th July 2013: Planning granted for Circuit of Wales

Outline planning permission is granted for a new race circuit in South Wales with an initial construction plan starting in late 2013 and finishing by 2016.

Plans included 3.5 mile long circuit as well as motocross and karting tracks, alongside a hotel and both commercial and retail complexes. A technology park would also be constructed and is billed as 'a hub for research and development companies that are seeking to push the boundaries in environmental technology and energy solutions'.

31st July 2013: Circuit of Wales 'put on hold' by Welsh Government

The Welsh Government asks for more time to decide if it should inspect the plans and issued a 'holding direction', which prevented the council from granting final planning permission, although the council continues to process the application.

24th March 2014: Silverstone wants to halt Circuit of Wales state funding

Silverstone writes to Prime Minister David Cameron to try and halt state funding for the proposed Circuit of Wales.

13th August 2014: Circuit of Wales lands British MotoGP deal

The Circuit of Wales secures its deal with Dorna for the hosting rights for the British MotoGP from 2015, with the initial race to be hosted 'at an alternative venue' with the Circuit of Wales expected to be ready to host in 2016.

21st January 2015: 'Final hurdle' for Circuit of Wales planning

A public inquiry would be held in March 2015 to discuss plans to de-register common land located within the Circuit of Wales development. Described as the 'final hurdle in a lengthy planning process' with a successful outcome allowing construction work to begin.

10th February 2015: Donington Park breaks off British MotoGP deal with Circuit of Wales

Donington Park ends its ties with Circuit of Wales to host the 2015 British MotoGP after falling out over long-term payment deadlines

11th February 2015: Silverstone regains British MotoGP until 2016

After the Donington Park deal collapses, Silverstone secures a contract with the Circuit of Wales to host the British MotoGP for 2015 and 2016.

17th November 2015: Circuit of Wales clears planning requirement

The Welsh government grants 'final approval' on common land to enable building work to commence following the end of the judicial review period. Construction and finance contracts left to be finalised. Martin Whitaker named as the new Circuit of Wales CEO.

9th February 2016: Circuit of Wales secures Aviva finance backing but delays MotoGP until 2018

Insurance giants Aviva named as financial backers to the Circuit of Wales as it delays hosting the British MotoGP event to 2018 with Silverstone getting the 2017 race.

7th April 2016: Circuit of Wales hit as Welsh Government rejects initial funding plan

The Welsh Government says it cannot underwrite the full ?357m of Circuit of Wales but project negotiations continue.

12th July 2016: Project leaders deliver revised funding plan to Welsh Government

Circuit of Wales leaders submit a new funding plan asking for around half of the total to be underwritten by the Welsh Government with loans of ?90m from local councils of Blaenau Gwent and Monmouthshire.

13th July 2016: Circuit of Wales hit by latest setback as Welsh Government outlines new funding plan

Economic Secretary Ken Skates sets out new terms of agreement which need to be met to give the project with 50% of funding raised privately plus 50% of the underwritten funds also coming from the private sector. Circuit of Wales remains confident of finding private funding.

2nd November 2016: Welsh Audit office investigates Circuit of Wales funding

The Welsh Audit Office is investigating how public money was given and spent in connection to the Circuit of Wales project.

5th January 2017: Circuit of Wales signs partnership with Extreme

The Circuit of Wales project announces a new partnership with sports company Extreme to develop action sport facilities, music venues and hotels next to its motorsport circuit to make it a '365-day' venue.

8th February 2017: Revised funding plan submitted to Welsh Government

An improved financial plan for the Circuit of Wales project, with a ?100m coming from a private banking firm, is formally submitted to the Welsh Assembly.

27th July 2017: Circuit of Wales gets fresh public funding rejection as Welsh Government pulls out

The Circuit of Wales suffers a potentially fatal blow to its funding plan after the Welsh Government turns down its latest submission, with an automotive business park set to be built instead. Circuit of Wales seeks clarifications on the rejection before assessing its next move.

29th July 2017: Circuit of Wales criticses Welsh Government findings

The Circuit of Wales gives a full response to the Welsh Government's decision to reject its public funding proposal and is critical of its findings which were 'notable for inaccuracies'.