Date: 26th January 2012 at 3:08pm
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Over the past few weeks there have been a lot of rumours and comments about the future of both races in Spain.

The governments of Catalunya and City of Valencia who host the Spanish and European Grand Prix’s have both recently revealed that due to financial reasons they are having to consider their current contracts with Formula One.

Valencia’s city government has stated that it wants to renegotiate its race fee, which is in the region of £20.6million per year, while Catalunya’s minister for economy Andreu Mas-Colell has been quoted as saying that they would have to consider their future position in regards to hosting the Formula One and MotoGP races.

However the head of the Circuit de Catalunya, Salvador Servia has spoken defiantly that not only does the race in Barcelona have an immediately future, he wants it to continue its long association with Formula One.

‘Only a disaster – say, an earthquake – is a problem. Forget all the rumours and headlines, we are still working as we were before,’ Servia told Vuelta Rapida radio.

‘If there are five [future races in Europe] then we want to be one of them, and we will fight to be.

‘We have had no communications, either verbal or written from him [F1 supremo Bernie Ecclestone] or his organisation regarding the issues of the rumours and headlines.

‘We are here, working to fulfill our contract until 2016 and thinking about 2020 as well.’


But while Barcelona appear content with the situation, the people behind the European Grand Prix in Valencia are waiting to hear back from Ecclestone regarding the possibility of either renegotiating their race fee, or the idea behind sharing the Spanish Grand Prix between Barcelona and Valencia.

‘we are waiting for a response from him and, after contact with different organisations and also with Catalonia, he will tell us what are the alternatives.

‘I’m waiting for what Ecclestone says, being aware of our economic situation, that allows us to continue with the grand prix.’
Valencia’s regional president Alberto Fabra told crash.net.

If a renegotiation cannot be agreed then it is difficult to see what will happen next as there are big penalties and fines handed out to tracks that break their signed agreements and they are also likely to be dragged through the British courts.

Meanwhile the proposed ?200million 5.7km circuit on the Balearic Island of Mallorca has been put on hold. Two years ago it was reported that Ecclestone was enthusiastic about the project, but since the economic recession has hit Spain, the project has been shelved.

 

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