Valencia Grand Prix Future in Doubt

The future of the European Grand Prix in Valencia is in doubt after the city’s government indicated that it wants to renegotiate its race fee.

Jose Ciscar, vice-president of the Generalitat Valenciana, said he was embarking on a “complete and thorough review” of the major events budget.

Valencia has a contract to host the race on a street circuit on the city’s waterfront until 2014.

Ciscar does not rule out cancelling the race. “We do not discount anything.”

He also said that he would be contacting F1 boss Bernie Ecclestone to discuss the city’s wishes.

The move makes Valencia, which is reputed to pay in the region of 25 million Euros (£20.6m) a year to host the grand prix, the second race to ask Ecclestone to reduce F1′s fees.

Korea, which made its debut on the calendar in 2010, is also reconsidering the future of its race.

There are also doubts about two races on the 2012 calendar – Bahrain because of ongoing unrest in the Gulf state and the new US Grand Prix, on account of delays in building the track in Austin, Texas.

Read more: bbc.co.uk