Valencia agrees race deal from 2008

The Spanish city of Valencia looks set to host Grands Prix in a seven year deal from 2008, on a purpose built street circuit at the harbour development. The announcement was made at a press conference in Valencia on May 10th by Bernie Ecclestone.

The Spanish city of Valencia looks set to host Grands Prix in a seven year deal from 2008, on a purpose built street circuit at the harbour development. The announcement was made at a press conference in Valencia on May 10th by Bernie Ecclestone. The race will be scheduled for later in the season and will be named the European Grand Prix.

However, the agreement with the Valencia regional government will not be sealed unless the present president, Francisco Camps, wins local elections to be held later this month. "Although everything is ready, I won't sign the contract until after the election," Ecclestone is quoted as saying.

Reportedly Ecclestone insisted on a street circuit rather than the nearby Circuit Ricardo Tormo, which is regularly used for F1 testing. Allegedly Valencia is willing to pay around €25 million to host each race, while the soaring interest in F1 in Spain due to the success of Fernando Alonso was another deciding factor.

The deal means Spain will have two Grands Prix: Barcelona's Circuit de Catalunya is the venue for this weekend's titular Spanish GP. In recent years the European GP has been hosted by the Nurburgring but that circuit and Hockenheim are now co-hosts on alternate years of the German GP.

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About this article
Series Formula 1
Drivers Fernando Alonso , Bernie Ecclestone