Nov.16 (GMM) Negotiations to bring an Abu Dhabi-style Ferrari theme park to Valencia in Spain have reportedly broken down.

F1 race in Valencia.
F1 race in Valencia.

Photo by: xpb.cc

EFE news agency reports that the Valencian government was unable to receive a guarantee that the privately-backed 'Ferrari World' would not require state money either now or in the future.

"It's a good investment, a very interesting investment, but what we will not do is have it as a cost for the Valencian government or community," said regional vice president Jose Ciscar.

"We are uncompromising on what must be the basis of the negotiations, which is that it must not cost Valencia a single euro," he added.