The issue will be discussed further next weekend
Apr.30 (GMM) Valencia's mooted return to the Formula One calendar next year is now under a dark cloud.
We reported earlier this month that the Spanish port city - absent from this year's schedule - could be back in 2014, after its president Alberto Fabra met with Bernie Ecclestone in February.
But, whilst not completely ruling out an alternation, Mas said the Circuit de Catalunya is willing to continue to organise the Spanish Grand Prix each year.
"We are able to fulfil the contract that we signed," he is quoted by El Mundo Deportivo newspaper.
"Since more than a year ago, when I spoke of an alternation, we have worked very hard and we are able to take on the challenge of organising the race every year."
Mas said the issue is likely to be discussed further next weekend, when Barcelona hosts the 2013 Spanish Grand Prix.