May 23 (GMM) Valencia has once again reduced the capacity of its street circuit ahead of next month's European Grand Prix.

2011 European GP
2011 European GP

Photo by: xpb.cc

After a 112,771 spectator sellout for the inaugural event in 2008, organisers reduced the temporary seating capacity by 35,000 on lower demand the following year.

The capacity was shrunk again, to 65,000, for last year's race, and this year there will be only 45,000 places for spectators to sit amid Europe's economic crisis, according to El Pais newspaper.

It means Valencia's spectator capacity has more than halved since 2008.

We reported this year that although Barcelona is not convinced it should annually alternate Spain's F1 hosting rights, Valencia is insisting the arrangement go ahead starting next year, as suggested recently by Bernie Ecclestone.

Until then, only 13 grandstands have been erected for the June 24 race, a figure "that may increase depending on demand", an official said.

The report in El Pais explained: "The organiser's goal is to adjust the mounting costs to reduce the losses of previous years, especially in view of the high fees charged by Bernie Ecclestone."