Date: 10th January 2012 at 10:01am
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The Spanish Grand Prix in Barcelona could now be under threat after the Catalunya government said they may have to reconsider hosting the event.

The question was put to them by the Spanish media after it came to light that the city of Valencia’s government was seeking to try and renegotiate its race fee.

Valencia hosts the European Grand Prix and pays a whopping £20.6million per year for the privilege. But under the current financial climate, governments in Spain are looking for ways to tighten their belts and lavish spending on hosting Formula One and Moto GP events could become victims of their attempts to cut costs.

‘We could reconsider the hosting of Formula 1 or motorcycle grands prix,’ Catalunya’s minister for economy Andreu Mas-Colell told RAC1 radio as quoted by Autosport Magazine.

‘It is not clear to us that we can afford them in the current situation.

‘It is not the first thing we will reconsider, but in times like these we must look very closely at where we spend the money.’


Valencia’s current deal to host the European Grand Prix currently runs until 2014 while Barcelona’s deal to host the Spanish Grand Prix is not set to expire until 2016.

 

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