Date: 19th January 2012 at 10:28am
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Formula One surpremo Bernie Ecclestone would consider alternating between Barcelona and Valencia.

The hosts of the Spanish Grand Prix and the hosts of the European Grand Prix have both recently revealed that due to financial reasons they are having to consider their current contracts with Formula One.

According to Sky Sports an official approach has yet to be made to Formula One, however Valencia’s city government has stated that it wants to renegotiate its race fee, which is in the region of £20.6million per year.

Following the announcement by the vice-president of the Generalitat Valenciana Jose Ciscar, the Catalunya government also said that they may have to reconsider hosting their event as well, with Catalunya’s minister for economy Andreu Mas-Colell quoted as saying that they would have to consider their future position in regards to hosting the Formula One and MotoGP races.

With both races in Spain apparently under threat, Ecclestone was asked about the situation and he has suggested that alternating between the two tracks might be a good idea.

‘What’s been talked about more is that Barcelona would like to alternate with them,’ Ecclestone told the Financial Times. ‘Maybe it’s a good thing. Maybe it’s the way to go.’

Since 2007 the German Grand Prix has alternated between the Nürburgring and Hockenheim.

In 2009 a new deal between the two tracks was agreed to guarantee the German Grand Prix until at least 2018, with the two tracks sharing the financial costs of hosting the event.